The CEO of struggling music crowdfunding platform PledgeMusic, Dominic Pandiscia, has left the company.
PledgeMusic bills itself as a “way for fans to experience music and the creative process” by directly connecting with their favorite artists. The service allows musicians to raise money from their audience but does not take ownership share in the music itself, instead taking a flat commission fee. Musicians offer incentives to fans based on the amount of their pledge, not unlike popular crowdfunding site Kickstarter. Prominent artists who have used PledgeMusic include The Flaming Lips, Nelly Furtado and Blackalicious, among others.
Pandiscia was hired in April 2016 after stints at Capitol Music’s independent division, Caroline, and EMI in sales and marketing roles. At the time, Pledge was looking to expand following the purchase of NoiseTrade and Set.fm.