Interview With Ethan Diamond Of Bandcamp

How I Built This
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And today my conversation with ethan diamond the ceo and co founder of band camp band camp describes itself as an online record store and music community. Any band or musician can post their music on the site sell it and also offer merchandise and tickets for live performances and the artists keep more than eighty percent of the profit band. Camp had been steadily growing since its launch in two thousand seven but last year was its biggest yet. Traffic to the site surged as concerts and festivals. Mostly shut down. You know as you said. We're essentially an online record store and use a community where fans connect with artists and directly. Support them and about half. The business is physical record. So vinyl cassettes cds. A lot of t-shirts as well and then half the business is a digital music. So people buying Digital and digital tracks directly from the artist and we also recently launched live streaming. So now tickets are part of it as well but You know. I would say that the thing that really sets us apart is that we just built the whole company and the welfare of the artist. So we don't we don't sell advertising. We don't really focus on subscriptions. We just help. Artists sell their music. And then we take a small revenue share on every sale. So what to say is that we only make money. If artists make a lot more money and sort of alignment of interest that we have built into our business model is really just everything about i would were. I would say an artist. I music company and something like eighty. Five percent on average of the revenue goes directly to the artist right. Yeah it's it ends up being There's payment processing fees Fee so on our and it varies by transactions is comes out to about eighty two percents that goes directly to the to the artist and then we pay that out every it usually takes about twenty four to forty eight hours. I've heard it described a little bit like esi for independent music. Is that a fair comparison. Totally yeah i and which i take is a complimentary. I think that that's i think it's a really good comparison at ca and banker both really large marketplaces that I think really focus on supporting the

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