After five years, Drip, a subscription-based music platform for independent musicians, was scheduled to shut its doors for good. On March 17, the day before the planned shutdown, Drip was saved by crowdfunding platform Kickstarter. But it wasn’t a crowdfunding campaign that saved Kickstarter. It was the company itself that bailed out Drip.

“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. We are proud Drip will inform the mission at one of the most respected companies in artistic support. The wave of goodwill in response to our announcement last month has been very meaningful to us and the creators we work with. Thank you for your continued support and for being a part of the journey,” said Valenti on Medium.

Valenti and Senquiz started Drip to create a platform where independent musicians and creators could share their work, connect with fans, and earn revenue directly from those fans. During its five-year run, Drip helped creators generate millions of dollars, but without additional support and funding, the founders didn’t think they could continue to fulfill their mission.

Before the acquisition, fans expressed their sorrow about the loss of Drip.

Enter Kickstarter who saved the day, making its first acquisition. According to Billboard, Kickstarter is a good fit for a startup like Drip.

“On the web, people are searching for ways to make the most money possible, and here you have two platforms that are very clearly not doing that,” Yancey Strickler, Kickstarter’s CEO, told Billboard.

In a blog post about the acquisition, Strickler explains why Kickstarter wanted to help Drip.

“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. So how does this change things? In some ways, not at all,” said Strickler

“Our commitment to serving creators is hardcoded into our missions, and will continue to guide us. In other ways, we’re excited to discover where it leads. Miquel will join the team heare at Kickstarter. Together we’ll all be able to serve creators, creativity, and our communities more powerfully. This is just the beginning,” Strickler added.

Why does Kickstarter want a music platform? Aside from similarly aligned goals, Kickstarter has done well in the music category which has funded more than 22,000 successful projects thus far. Drip may bring new audiences to Kickstarter, and the partnership will raise visibility for both organizations.

Insider Take:

We are pleased to hear that Drip found a new home, so that its vision can continue. As Drip explains it, they saw a need and they filled it, using the subscription model to help creators build a fan base. Fans of a particular record label like Sub Pop and individual artists like STS9 could subscribe to get exclusive tracks and perks not available to others. The Drip creators didn’t give up; they regrouped and found a strong partner and supporter in Kickstarter.

From the beginning, Drip has been innovative and not afraid to try something new. They’ll take this spirit and continue their music community, matching artists and labels with independent music fans. Other services like SoundCloud and BandCamp will continue as competitors, but with Kickstarter’s backing and Drip’s existing fan base, the subscription startup has a good chance at success.