After several years of offering free services, music marketing and sales platform Bandcamp announced today that it will be switching to a paid platform in early August. Bandcamp will charge artists 15% of each transaction, dropping to 10% as soon as an artist, management or label's all-time sales exceed $5,000. The revenue share rate for existing accounts will be based on all sales to date.
In the past six months, Bandcamp says that they've sold more $1 million in music and merch directly to fans. Last week Zoe Keating hit #7 on the Billboard Classical chart from the strength of her Bandcamp sales alone.
“It's been awesome to witness," according to Bandcamp founder Ethan Diamond. “And we're amped to carry right on, full steam ahead, building out new features, honing existing ones, strengthening our infrastructure, and generally making things better and better. Perhaps most importantly though, we want to do so in a way that's sustainable long-term."
Details here.
