In light of the recent launch of the TIDAL model of music ‘distribution’ (via collapseboard) its important to acknowledge an alternate promotional, sharing and innovative music purchasing model such as bandcamp as it hits a milestone.
The site has also raised $3.4 million in the last 30 days alone.
Bandcamp hit the biggest milestone in its history today, announcing via a short note on the homepage that listeners have spent $100 million on artists through the direct-to-fan platform since its launch in 2007. Near the end of 2013 the site announced it had hit the $50 million mark and promised to double that in only 18 months – in the end they did it in 16.
Bandcamp has been gaining popularity since the beginning of this decade when artists began using it as an alternative to the typical label system, while smaller labels have seen it as a way to get music out while keeping costs down. The site allows artists to put up their music for streaming or download for free, and famously embraced the “name your price” system, taking a percentage from each purchase rather than charging artists to use the site.
The latest stats reveal that fans give artists an average of $3.5 million every month, and roughly 16,000 records are bought by fans every day – that’s a sale every five seconds.
Check out some of the best Bandcamp releases so far this year in the January edition of The Best Of Bandcamp.