Bandcamp’s 2017 financial review shows impressive growth for the independent record store, digital, physical and merch sales all rose and all-time artist payments passed $270,000,000.
In 2017 digital album sales rose 16%, digital tracks rose 33%, merch rose by 36%, vinyl by 54%, CDs by 18% and cassettes by 41% for an overall growth of 73% across 3,500 labels. The review marks Bandcamp’s sixth consecutive year as a profitable company.
The review also highlights the bold differences between their sales model and that of the streaming giants, how music is becoming controlled by just a few massive corporations. 10% of music now accounts for 99% of all streaming, and major labels have extreme influence in the playlist and feature sections of streaming platforms, severely limiting the exposure and discoverability of independent musicians. Per stream revenue also seems to decrease while Bandcamp have a clear revenue share.
“Our share is 15% on digital items, and 10% on physical goods. Payment processor fees are separate and vary depending on the size of the transaction, but for an average size purchase, amount to an additional 4-7%. The remainder, usually 80-85%, goes directly to the artist, and we pay out daily.”