PledgeMusic CEO Dominic Pandiscia Resigns
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.
But Pledge has been dogged by issues since the beginning of his tenure. In June, Pandiscia acknowledged to Variety that the company was struggling to pay some of their bigger artists in a timely manner, which they attributed to rapid growth and changes in their payment method. They were also embroiled in controversy surrounding a campaign on the platform by vulgar country singer Wheeler Walker Jr., whose pledge drive they canceled.
Pandiscia will restart his media consulting company Sunday Artist, which he first opened in September 2015.