Bandcamp hit the biggest milestone in their history today announcing that fans have given 100 million dollars to artists. Near the end of 2013 Bandcamp announced they’d hit the $50 million mark promising they would double it in only 18 months. They did it in 16.
Beginning with humble origins in 2007, Bandcamp began gaining popularity around the beginning of this decade when artists saw it as an alternative to the typical label system and smaller labels saw it as a way to get music out while keeping costs down. The site allows artists to put up their music for streaming/downloading 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 stats from today reveal fans give artists an average of $3.5 million every month and roughly 16,000 records are uploaded every day. That’s a new album every five seconds. Shout out to FACT contributor Laurent Fintoni for the tip.
Check out some of the best Bandcamp releases so far this year in the January edition of The Best Of Bandcamp.