Direct to fan platform Bandcamp is celebrating its 40th Bandcamp Friday on May 3. The initiative was launched during Covid lockdown in March 2020 and sees the platform waive its share of revenues from artists’ sales.
Bandcamp, which was acquired by Songtradr in September, reports that artists have generated $123 million via this initiative since then.
According to the company, fans have paid artists and their labels $1.3 billion via Bandcamp to date. Bandcamp was founded in 2008.
The company also says on its website that in the past year alone, fans have spent $194 million on 14.1 million digital albums, 10.8 million tracks, 1.7 million vinyl records, 800,000 CDs, 350,000 cassettes, and 50,000 t-shirts.
Fans have paid artists and independent labels $16.4 million in the past 30 days alone, Bandcamp reports on its website.
On Wednesday (May 1) Bandcamp said that its fanbase is growing at a rate of approximately 100,000 per month, whose “engagement is not just supporting artists financially but also driving a significant shift in how music ecosystems can operate”
