Indie music fan service Drip announced it was closing its doors last month, but the platform is not disappearing quite yet. Instead, the day before it was scheduled to shut down, Drip has been acquired by Kickstarter.
No financial details were shared, but it seems the talent behind Drip will remain active in the property. Cofounder Miguel Senquiz is also joining the Kickstarter team to oversee the crowdfunding platform’s vision for the service. Drip is a subscription system for indie music fans, where a monthly fee grants access to exclusive tracks and other perks. The concept seems to align well with the rewards-driven Kickstarter community.
“Art and music are an essential part of life and we started Drip with the belief that putting more agency into artists’ hands is a move towards a more diverse and empowered society,” CEO and Founder Sam Valenti IV said in a blog post. “We are proud Drip will inform the mission at one of the most respected companies in artistic support.”