Kickstarter has bought out Drip just before the digital subscription platform's scheduled closing on March 18, the company has announced in a statement.
“Many of us at Kickstarter have admired Drip over the years.” Kickstarter CEO Yancey Strickler writes. “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.”
Drip was founded by Sam Valenti IV of Ghostly International and Miguel Senquiz in 2011, and provided fans of artists and independent labels early and exclusive access to new releases. Domino Records, Sub Pop, OWSLA, R&S, Fools Gold and many more each charge a monthly fee for access, which is billed as a way of directly and fairly supporting the artists.