BandPage, Rhapsody Partnership Yields Impressive Monetization For Musicians
Earlier this year, BandPage and Rhapsody partnered to create an enhanced streaming music experience. Rhapsody users are now alerted when their favorite bands are coming to town and notified of special opportunities like VIP experiences, private shows and custom recordings. Today we learned some early results.
The BandPage Rhapsody partnership is netting impressive results, according to stats released by the company this morning. Using BandPage’s behavioral algorithms musicians can now connect with their biggest fans on Rhapsody.
Over the last few months, push notifications were sent to thousands of users who showed in an artist, and the level of resulting engagement far exceeded typical click through rates for other platforms often used by musicians. On average, engagement was twice as high as Google Search, 10 times higher than Facebook ads and over 50 times more effective than web display advertising, according to the two companies, according to BandPage.
Rhapsody users also appear to like the service. The music streamer has seen significantly higher engagement rates from users with these notifications compared to their historical average.
As a Rhapsody user plays a track, a relevant push notification is sent with a message from the artist. These messages notify fans of special experiences available in that artist’s BandPage Store or let the user know if the artist is coming to their town to play a gig.
Rhapsody does not charge the artist in advance for the messaging. "Consistent with the rest of the BandPage Network, we don't charge anything up front to distribute offers to fans from musicians' BandPage Stores.," BandPage Chief Marketing Officer Doug Scott told Hypebot. "Then, when a fan clicks and buys something from the artist, BandPage receives a share of the revenue, typically 10% of the transaction value. This 'cost per purchase' model aligns us completely with the interests of the artist and incentivizes us to find the perfect offer to show to each individual fan."
“The fact that these two companies now allow me to engage my biggest fans at the moment they are listening to my music is incredibly impactful to my business, the numbers speak for themselves,” said Flo Rida, hip-hop star and entrepreneur. “This is an important path forward for musicians and I hope all streaming services make efforts to support musicians in this way. I, for one, will be directing my fans to use the streaming services that do this and I suggest the same to my fellow musicians."
