What do Nils Frahm, Anne Mueller, Jeannie Schulz, Mary Lattimore and Atli Örvarsson have in common? They are among three dozen artists whose albums I bought last year from Bandcamp, an Oakland, CA-based music service. It was my way of supporting these artists. As I wrote earlier, “we need to figure out how much we value the music and the musicians,” so that “we can use our dollars to encourage them to keep creating.”
And I am not alone. 800,000 customers spent $48.3 million on what Bandcamp calls Bandcamp Fridays — every first Friday of the month, Bandcamp forgoes the 15 percent cut of the digital sales (and 10 percent cut of the physical sales.) All money goes to the artists. Bandcamp Fridays started as a one-off feature on March 20, 2020, it has become a regular feature. In a year since the company has sent $148 million to the artists.
Their success is finally getting the attention it deserves. It has taken almost a year for the media to notice Bandcamp’s progress. There is a fantastic article in Billboard, and of course, much better is an NPR conversation with the co-founder and CEO of the company, my dear friend, Ethan Diamond. Shawn Grunberger is the co-founder and chief technology officer.
Bandcamp is the antithesis of streaming. The company’s value metric is based on helping smaller and independent artists create a way forward for themselves. In comparison, someone like Spotify’s north star metric is time spent on the (Read more...)