As news that PledgeMusic was declaring the UK equivalent of bankruptcy, reaction was swift and almost universally negative. Many blamed PledgeMusic's management and board of directors. "I honestly don't know how they sleep at night," said veteran music marketer Jay Gilbert.
"Where was the board?" asked music industry attorney Chris Castle. "These people deserve to be called out and exposed...and sued...by all of us affected" wrote indie artists Jemal Wade Hines of the band HuDost.
"I am gutted that so many artists are left unpaid and now footing the bill for things paid for by their own fans.," said Jay Coyle of Music Geek services, who had developed a specialty in running successful PledgeMusic campaigns. "I am not gutted that deception and dishonesty was more important to the company leaders and board's goals."
"The worst part is it breaks the trust that fans have with their favorite artists and musicians work very hard to create those bonds," said Ariel Hyat of Cybr PR. "Sadly it will make many hesitate before supporting other crowdfunding campaigns."
Hypebot reached out to music industry insiders and artists who have been affect by the bankruptcy for their reaction.
Ian Baker - Jesus Jones
“PledgeMusic has been nothing short of amazing for me. They have proven to be the perfect forum to coalesce my pockets of fans worldwide, alert them to all of the ways they can participate in the creation of my new musical offerings, and establish regular communication and exchange for future projects in the years to come. It is exactly the the type of model I’ve been waiting for to move upward and onward for an artist of my current notoriety. I can establish regular, mass communication directly with my fan base and have them literally guide and inspire me as to what they would enjoy hearing from me next. Bypassing the traditional modes of music commerce has allowed artist and fan to cut to the chase and get to the musical heart of the matter...on OUR terms.”