> ## Content Index
> Fetch the complete content index at: https://www.hypebot.com/llms.txt
> Use this file to discover other available public pages before exploring further.

# Magna Takes “Major Position” In PledgeMusic
- URL: https://www.hypebot.com/magna-takes-major-position-in-pledgemusic/
- Published: 2016-02-24T09:46:12.000Z
- Updated: 2016-02-24T09:46:12.000Z
- Description: Recent hires at Kickstarter signal that the crowdfunder is ramping up its music industry outreach. To counter that move and expand its own successful footprint, music centric competitor PledgeMusic has. Continue reading [https://www.hypebot.com/hypebot/2016/02/magna-takes-major-position-in-pledgemu
- Author: Bruce Houghton
- Tags: DIY Advice & Tips, Music Tech, Startups & Funding, crowdfunding, kickstarter, music, musicians, #wp, #wp-post, #Import 2026-01-21 10:22

[![PledgeMusic_Logo_2014](http://hypebot.typepad.com/.a/6a00d83451b36c69e201b7c819b586970b-150wi "PledgeMusic_Logo_2014")](http://hypebot.typepad.com/.a/6a00d83451b36c69e201b7c819b586970b-popup?ref=hypebot.com)Recent hires at **Kickstarter** signal that the crowdfunder is ramping up its music industry outreach. To counter that move and expand its own successful footprint, music centric competitor **PledgeMusic** has gotten a cash infusion from one of its main investors **Magna Entertainment.**

Magna Entertainment, a division of the investment firm Magna, today announced that it had taken a "major position" in PledgeMusic. Details of the deal were not disclosed, but the New York based venture capitalists invested $3 million in PledgeMusic in 2014.

[![image from d1nvfozp665ptr.cloudfront.net](http://hypebot.typepad.com/.a/6a00d83451b36c69e201b8d1a3d8ad970c-250wi "image from d1nvfozp665ptr.cloudfront.net")](http://hypebot.typepad.com/.a/6a00d83451b36c69e201b8d1a3d8ad970c-popup?ref=hypebot.com)

Direct-to-fan e-commerce platform PledgeMusic creates monetization opportunities for musicians that range from advance purchase and merch to special fan experiences. The London based startup was recently named one of the Top 10 Most Innovative Companies in Music by Fast Company. Its artists include LCD Soundsystem, Lindsey Stirling, The Libertines, Cold War Kids, Rufus Wainwright, The Flaming Lips, 311, Def Leppard, Rob Zombie, and KT Tunstall.

**Magna: A VC That Gets Music**

Magna Entertainment is led by music industry veteran Russell Rieger. Rieger served as General Manager and EVP of Creative for Madonna's Maverick Records working with artists including Prodigy, Alanis Morissette, Muse, the Deftones. Prior to Maverick, he was the GM of London Records and began his career as a manager for Modern English, The Replacements, The Del Fuegos and Cyndi Lauper.

Related articles

[![](http://i.zemanta.com/271155914_80_80.jpg)](https://www.hypebot.com/blair-named-svp-promotions-at-rca/)[Blair Named SVP Promotions At RCA](https://www.hypebot.com/blair-named-svp-promotions-at-rca/)

[![](http://i.zemanta.com/332188277_80_80.jpg)](https://www.hypebot.com/juno-award-winners-2015-a-full-list/)[Juno Award Winners 2015 – A Full List](https://www.hypebot.com/juno-award-winners-2015-a-full-list/)

[![](http://i.zemanta.com/277711168_80_80.jpg)](https://www.hypebot.com/2nd-cassette-store-day-announced-burger-records-to-coordinate-us-events/)[2nd Cassette Store Day Announced, Burger Records To Coordinate U.S. Events](https://www.hypebot.com/2nd-cassette-store-day-announced-burger-records-to-coordinate-us-events/)

[![](http://i.zemanta.com/339579594_80_80.jpg)](https://www.hypebot.com/swatch-partners-with-pledgemusic-to-present-emerging-artists-series/)[PledgeMusic Partners With Swatch To Present Emerging Artists Series](https://www.hypebot.com/swatch-partners-with-pledgemusic-to-present-emerging-artists-series/)

[![](http://i.zemanta.com/289668654_80_80.jpg)](https://www.hypebot.com/dear-pledgemusic-its-time-to-stop-misrepresenting-music-crowdfunding/)[Dear PledgeMusic: It's Time To Stop Misrepresenting Music Crowdfunding](https://www.hypebot.com/dear-pledgemusic-its-time-to-stop-misrepresenting-music-crowdfunding/)

[![](http://i.zemanta.com/319239613_80_80.jpg)](https://www.hypebot.com/hypebot/2014/12/patreon-donors-gave-10-million-to-musicians-and-creators-in-2014-.html)[Patreon Donors Gave $10 Million To Musicians and Creators In 2014](https://www.hypebot.com/hypebot/2014/12/patreon-donors-gave-10-million-to-musicians-and-creators-in-2014-.html)