BandPage Now Powers Direct To Fan Sales Of 3 Million Items On Spotify, Rhapsody, Lyricfind
Has BandPage finally found the gold that musicians have been searching for in music streaming? If you consider the untapped artist revenue now uniquely accessible to BandPage users, the pot of gold at the end of the music streaming rainbow; then yes, the early numbers BandPage released this morning would suggest that they've done exactly that.
"The tip of a very large iceberg"
Through strategic integration with some of the industry's key players including Spotify, Shazam, Lyricfind, Soundcloud and several others, BandPage has found that displaying offers and engaging with fans while they're streaming their music translates into a significant uptick in revenue. How much of an uptick? BandPage says that by using their network, artists are getting more than 10 times the average daily impressions they get on their own web sites, and that has translated into some artists making upwards of $1,000 per day.
What does it mean?
“While the conversation today is often focused on streaming music revenues,” said J Sider, founder and CEO of BandPage. “Monetizing the engagement around the stream represents a massive new revenue opportunity for our industry and we are starting to see the data to prove it.”
BandPage, the central profile that 500,000+ musicians use to engage and sell to hundreds of millions of fans, announced this morning that it is currently distributing more than 3,000,000 items for sale to fans across services including Spotify, Shazam, Rhapsody, Lyricfind and more. Thanks to the expanding breadth of BandPage and it's partnerships, offers distributed through the BandPage network are seeing average clickthrough rates that are 5 times higher than typical online channels and conversion rates up to 3 times higher than online retailer averages.
Sider continued, “It’s really exciting to be partners with these great music platforms. They care and are working hard with us to generate meaningful revenue for musicians through our integrations. We are solely focused on that. That’s our job.”
How are these offers being distributed?
Take Shazam for example. Previously, users would identify a song and land on a link to download from iTunes along with a plethora of random pop-up ads. BandPage users will now have access to targeting fans who are Shazaming their music with strategic ad placements paired with their music and powered by BandPage.
Same goes with LyricFind. If a fan likes your music enough to be sure they know the words, odds are, they'd be interested in merch, tour dates, concert tickets, etc. but at minimum, they're already more engaged than the average person trolling the internet. BandPage has opted to capitolize on that piece of the puzzle, targeting time and energy towards fans who are already engaged at one level or another.
Sider told Hypebot "Our main goal here at BandPage is to help musicians increase their revenue and grow their audiences. Before, you could only fish in a small pond. Now, these added partnerships new integrations mean opening up to larger lakes, or even oceans of fans. This is the first time we've shared the numbers – and these numbers are just the tip of a very large iceberg."
