BANDCAMP HAS PAID ARTISTS $150 MILLION IN EIGHT YEARS
The independent online music retailer has been self-funded and profitable since 2012
We have said it before in the past, but Bandcamp is proving to be the best outlet for artists and labels to reach their fans and turn a profit.
According to Billboard, the online retailer recently reported that in the past eight years alone, they have paid $150 million to it’s users.
This is indeed a staggering number when looking at how other online retailers and streaming platforms, like iTunes and Beatport, pay royalties to artists. Bandcamp doesn’t seem to have any issues as their focus is strictly on providing it’s users with a platform to distribute their material in a streamlined fashion, directly to the consumer.
As Billboard points out, Bandcamp has approximately 1 million registered fans and makes a conscious effort to be transparent with artists. 15% of sales goes to the retailer, which is reduced to 10% after $5,000 in annual sales. On the sale of physical goods, like vinyl and cassettes, t-shirts and merch, they take 10%. And Bandcamp is doing just fine financially, the privately owned company has been self-funded and profitable since 2012.
Check out Bandcamp and see if it works for you.