Monday, July 13, 2020

Bandcamp generated $20m of sales for artists in last month | Music Ally

The Financial Times is the latest publication with an approving profile of Bandcamp. It’s part of a wave of admiration for the platform after its recent Covid-19 and Juneteenth / Black Lives Matter rev-share waiving sales, as well as the wider issue of artists’ income from streaming.

There’s a new figure too. “Over a 30-day period to July 10, artists sold more than $20m worth of products,” reported the FT.

Note, that period did *not* include Bandcamp’s three Covid-19 sales days (on 20 March, 1 May and 5 June) although it did include the Juneteenth sale on 19 June.

The piece does a good job of putting Bandcamp into the wider industry context, where $20m is still a very small amount of money compared to, say, global streaming revenues – but a meaningful amount for the independent artists and labels using the platform.

Or, as Keith Jopling of Midia Research puts it in the article: “Bandcamp could grow 200 per cent a year and still be considered niche [but] the future for artist marketplaces is beginning to look good.”

Stuart Dredge


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