(Hypebot) — Bandcamp has shared a rare look at some of the stats driving the popular indie destination including it’s superior track record of new music discovery and monetization.
50% of the money spent each month on Bandcamp is for music released in the past 90 days and 75% is for music released in the past year, according to stats shared last week.
Compare that to the music streaming services that dominate consumption where 73.1% of music consumption is of older or catalog music and you see Bandcamp’s clear advantage for new releases. Catalog music is defined as more than 18 months after its release.
Bandcamp is now also promoting its integrated Bandcamp Live livestream platform as a good way to market new releases. Deerhoof recently threw a listening party to launch their new record, Dominique Fils-Aime live-streamed from the same studio where she recorded her latest album, and Children of Zeus hosted an album release event with fans.
More Bandcamp stats
• Fans have paid artists and their labels $873 million using Bandcamp.
• In the last year they spent $210 million on
• 15.1 million digital albums,
• 7.0 million tracks
• 2.1 million vinyl records
• 950,000 CDs
• 500,000 cassettes
• 400,000 t-shirts.
• When a fan buys something on Bandcamp outside of Bandcamp Fridays, an average of 82% of the money goes to the artist or their label – typically in 24-48 hours – and the remainder covers Bandcamp’s revenue share and payment processor fees.
• The 17 Bandcamp Fridays which resume next week, have meant a total of $70 million in funds to independent artists and labels
• 800,000+ fans have made a purchase on Bandcamp Fridays
Bruce Houghton is Founder and Editor of Hypebot and MusicThinkTank and serves as a Senior Advisor to Bandsintown which acquired both publications in 2019. He is the Founder and President of the Skyline Artists Agency and a professor for the Berklee College Of Music.
