Bandcamp has a vision and a strategy about a fair, sustainable music economy and music makers and listeners are appreciating it with undamped force. With Bandcamp it is very possible to be a responsible fan in the age of streaming. Pairing an “pay upfront, stream forever” business with relevant cultural context in a mobile world and to be profitable since 2012 seems not only possible but rather interdependent.
The annually Bandcamp review is a manifest of self-confidence to do the right thing with the right attitude against the backdrop of mainstream-algorithm-dispair.
The recent 2017 Review is very worth reading and comes in three parts:
Bandcamp factors of success
2017 was another stellar year for Bandcamp, with double digit growth in every aspect of the business. Digital album sales were up 16%, tracks 33%, and merch 36%. Growth in physical sales was led by vinyl (up 54%), CDs (up 18%), and cassettes (up 41%). Revenue from the 3,500 independent labels on Bandcamp grew 73%, and more than 600,000 artists have now sold something through the site. Our publication, Bandcamp Daily, grew its audience by 84%, and all-time payments to artists through Bandcamp reached $270 million. We launched a new app for artists and labels, added gift cards, improved fan collections, held successful fundraisers for the ACLU and TLC, and we’ll soon mark six straight years as a profitable company that only makes money when artists make a lot more money.
Flak for the mainstream streaming companies
As we said last year, allowing the distribution of an entire art form to be controlled by so few has troubling implications, and those continued to play out in 2017. The streaming giants exert tremendous influence over what music gets heard, and must primarily serve their most important supplier, the major labels. The result is that independent labels, and especially independent artists, are far less likely to be discovered on those platforms. 99% of all streaming is of the top 10% most-streamed tracks, and given the majors’ control over the music that is promoted on streaming services (documented in the must-read piece “The Secret Lives of Playlists”), listening hours are likely to become even more concentrated at the top.
Commitment to stay the course
We want a music platform to exist where the playing field is level, where artists are compensated fairly and transparently, and where fans can both stream and own their music collections. The fact that this simple concept continues to resonate with so many talented artists and hard core fans inspires us every single day, and in 2018 we’ll be working hard to bring it to an even bigger audience.
For everyone involved in this success story, be it artists, labels and fans it is their duty to spread the word, to make this thriving ecosystem even better. Sign up for free today and explore the independent music world.
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