Since its launch in 2008, independent music service Bandcamp has steadily grown as one of the most visited and highly regarded alternatives to Soundcloud and the like. What separates Bandcamp from the rest is its dedication to simplicity and marketability on the users’ part. Unlike Soundcloud, which requires a third party site to sell tracks, Bandcamp allows their artists free reign over the price of their own music. Whether they choose to charge full album price or the “name your price” option, artists are able to regulate their own pages and connect with listeners in an easy and familiar way. If a fan decides to subscribe to an artist’s customized service, they can pay a regular fee to receive all future uploads as soon as they’re released.
Recently, Bandcamp announced the realization of an enormous milestone for their organization: $100 million worth of music and merchandise sold through their website to listeners and fans all over the world. Chief Executive Ethan Diamond revealed that approximately $3.5 million worth of music is sold every month, averaging to about one record sale every five seconds!
The company has been expanding at a remarkable pace over the last three years, and doesn’t look to be slowing down any time soon. As of now, Bandcamp receives 15% of all music, subscriptions, and merchandise sold, that number dropping to 10% after an artist has surpassed $5,000 in sales.
With some of EDM’s biggest names like Monstercat using the service, more and more up-and-coming producers who aren’t getting the results they desire are beginning to immigrate to Bandcamp.
Source: The Guardian
Photo Credit: UrbanDevelopment