Apple/Google selling phones and embedded services).” (7) In contrast, Bandcamp seems to be reaping dividends on its unique business model. They can afford to lose money on music because it attracts customers to the parts of their businesses that are profitable (i.e. “Standalone music streaming companies continued to lose money in 2017, and industry-wide record sales continued to decline. So we only make money if the artist makes a whole lot more money.” (5) With the mission ‘to become an important part of how an artist develops a sustainable career’, Bandcamp’s founder and CEO Ethan Diamond claims to be fighting for artists against oppressing big record labels and streaming services. It’s 15% on digital, 10% on physical, and in that way our success is tied to the success of the artist.
“Bandcamp’s model is based on a revenue share. While Spotify puts the listeners first, Bandcamp succeeds because it puts the artists first. (4)Ī platform centered around artists and their albums Without a label deal or contacts with influential playlist makers, an indie band is left to the mercy of AI algorithms for their tracks to be discovered by listeners in the vast, obscure universe of digital music. “Shelf space” within Spotify’s browsing catalog is sold to the highest bidder, namely the large labels and their artists. It gets worse if we think of independent artists.
Most of them claim that large streaming platforms keep most of the revenue, leaving thin royalty commissions to songwriters. (3) Are artists happy with Spotify at least? Hell no. Its long waited direct-listing IPO did not achieve full share subscription and its share price has continued to drop since. Hello Spotify.ĭespite making music more accessible to listeners, Spotify’s business model and has been heavily questioned by the market. Roughly two decades ago, Napster opened a pandora box that lead to the digitalization of the music industry and ultimately to the dominance streaming as the main music reproduction format. Long gone are the days of vinyl records, cassette players and CDs. Video killed the radio star, then digital killed MTV Pathways to a Just Digital Future Watch this tech inequality series featuring scholars, practitioners, & activists
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