Kickstarter Bets On Independent Music With Drip.com Aquistion

Last month, Drip announced that it was shutting down its indie label and artist subscription service. Now, top crowdfunding platform Kickstarter, who would seem to be losing some music market share to PledgeMusic, has brought Drip back from the dead. Kickstarter has acquired direct to fan artist and label subscription service Drip for an undisclosed sum.

Launched five years ago by Ghostly International founder, Sam Valenti IV and partner Miguel Senquiz, Drip.fm allows artists and top indie labels including Domino Records, Fool’s Gold, Ghostly International, Stones Throw and Sub Pop, to sell monthly subscriptions. Fans enjoy early access to releases, rare tracks, unique experiences, visual art, exclusive video and more; and the labels and artists get consistent monthly income.

“Many of us at Kickstarter have admired Drip over the years," wrote Kickstarter fonder Yancey Stickler in a statement. “At heart, we’ve been on similar paths. Strengthening the bonds between artists and audiences, and fostering the conditions for a more vibrant creative culture is at the core of our work at Kickstarter, too."

For now at least, Drip.fm will remain open for business. “The service, community, and creators will remain active and my co- founder Miguel Senquiz will join the team at Kickstarter to see Drip’s vision through," wrote Drip's Valenti.