Kickstarter buys digital music subscription service Drip
Drip, which was founded in 2012 by Ghostly International’s Sam Valenti and Miguel Senquiz (pictured), had announced its decision to shut down last month. Kickstarter stepped in to buy the fan club-style service just a day before it was due to close.
“Today, we’re happy to share an exciting change of plans. Drip will be joining Kickstarter,” wrote Valenti on Medium. “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.”
The purchase marks the first acquisition for the crowdfunding destination. Kickstarter CEO and co-founder Yancey Strickler said the two companies have “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,” he said.
Since launching in 2012, Drip had grown to include offerings from Mad Decent, Skrillex’s OWSLA, Stones Throw, Ninja Tune, Domino Records and many other independent labels. In 2014 it began to offer artist-focused drips, with King Britt and Christopher Willits among the first to test the water.
Drip’s approach has essentially been an update of the traditional fan clubs. A catalogue of releases can be unlocked the longer a fan stays subscribed and the content on offer is not limited to music but also includes events, videos, stems and more.
In February this year, Drip’s founders announced that “now was the time for Drip to come to a conclusion”. The site and service will now remain open, though it is not yet clear if it will be absorbed into Kickstarter. [via TechCrunch]