Kickstarter buys music streaming service Drip – Audio

Kickstarter is in the business of directly securing funding for projects that might not stand a chance in the cold, harsh, dog-eat-dog world of modern day capitalism. Over the years, plenty of brilliant projects have gotten off the ground that would have struggled under their own steam, but now the crowdsourcing giant has taken a bigger intervention with its first acquisition: Drip, a five year old indie music streaming service that last month announced it was closing.

But now Kickstarter has done what its own users have done so many times: put money on the table to keep a project going. Writing on the Kickstarter blog, CEO and co-founder Yancey Strickler wrote, “Like Kickstarter, artists on Drip enjoy closer connections to the fans who help sustain their work. And fans enjoy early access to new releases, rare tracks, unique experiences, visual art, exclusive video, writing, and beyond.”

“Many of us at Kickstarter have admired Drip over the years. 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.”

As part of the acquisition, Drip explained, “the service, community, and creators will remain active” while co-founder Miguel Senquiz joins Kickstarter to ensure the service’s original vision is maintained in the new era. For subscribers to the service, closure was a false alarm, and they can get back to the music they love.

Image: Caden Crawford used under Creative Commons

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