Bandcamp will offer a subscription service directly between the musicians and their fans.
Bandcamp is set to start offering up subscriptions, but they're not how you'd usually think a music subscription service would be. Speaking to the Guardian before announcing the new service at the SF MusicTech Summit today, Bandcamp's chief executive Ethan Diamond said, "we’re giving every artist the ability to create a subscription service of their own on the site."
This new subscription service will allow artists to name their own price for fans to subscribe to their music. All the artists' new music will then be immdiately available to subscribers via the Bandcamp app. Diamond said, 'it’s kinda like what U2 and Apple did, except that it’s music that you actually want!”
Musicians will be able to pick and choose what music their subscribers will get access to - even making their back catalogues available if they wish. They can also offer discounts to subscribers on merchandise they're selling in their stores.
Bandcamp's revenue share will be 15%, and that will drop to 10% once an artist hits $5,000 in their sales.
Currently a British band called Candy Says are offering up a £20 per year subscription over on their Bandcamp page. With that subscription you get all the new music the band makes directly to the Bandcamp app, subscriber-exclusive messages and photos, back catalogue releases and 'the satisfaction of knowing you're supporting [Candy Says] in a sustainable way.'
Bandcamp launched back in 2008 and gave a way for musicians to reach their fans directly, by running their own online stores to sell their music. £87 million has been paid out to artists since launch.
This news comes at an interesting time, as Spotify are currently defending the way they compensate artists with music on their service.