@hypebot: @bandcamp Reports ‘Stellar’ 2017, Indie Revenue Up 73%

[Editor Charlie sez:  Songwriters should note the increase in digital and physical sales and remember that the last rate hearing continued to freeze mechanical royalties on physical and permanent downloads at 9.1 cents minimum statutory–where it has been set since 2009 and will remain until 2022.  Inflation alone would peg that rate at 11 cents  today, if it hadn’t been frozen and increases for inflation just keeps the rate the same.  So what that really means is by freezing the rate at 9.1 cents in 2009, the rate has actually decreased for inflation.  That means that the mechanical rate has actually decreased by approximately 20% since 2009.]

Bandcamp is reporting a record year for 2017.  Here are some highlights:

  • Digital album sales were up 16% vs. a 20% industry decline)
  • Track sales up 33% vs. a 23% industry decline
  • Merch sales up 36%.
  • Growth in physical sales was led by vinyl (up 54%)  and CD sales up 18%

“Meanwhile, standalone music streaming companies continued to lose money in 2017,” the company wrote in a blog post chronicling its “stellar” year. ” The seemingly inevitable upshot of these two trends is that the majority of music consumption will eventually take place within the subscription rental services of two or three enormous corporations, who can afford to lose money on music because it attracts customers to the parts of their businesses that are profitable.”

Read the post on @hypebot

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s