September 20, 2011
On this quiet Monday night, while no one was paying much attention, the running counter we have on our features page reached the $5,000,000 mark. This means that Bandzoogle members are 5 million dollars richer than they were before we launched our store feature.
This fills us all with pure joy. Contrary to most online store providers, we have a policy to not take any commission (%) of our members' sales. We are a website and marketing platform provider. We charge a fair fee for our services, but we figure that if you are good enough at what you do and able to engage your fans so much that they are willing to part with some of their hard earned cash to buy a piece of merch, a track, or your latest album, then good on you, we have no business trying to slip our hands in that pocket.
I was excited about this milestone, so I asked Colin to query our database for some interesting tidbits of information:
- The average sale amount by Bandzoogle members is $28.02. That's an impressive number, and means that usually folks will buy more than one album, or a CD and a t-shirt, etc. Those who think they are now in the business of selling 99¢ downloads can revise their assumptions.
- A bit less than half our members use our store features. Some don't have a store, or they integrate another store into their site, or outside of it. On average, Bandzoogle members that use the store feature make more revenue from it than they pay us in membership fees. This is wonderful.
- Digital sales (albums or tracks) amount to about 17% of sales. This means that physical items (CDs or merch) still sell a lot more than digital downloads. At least from a band's website. Maybe iTunes and other digital stores are where fans buy more of the digital goodies.
- There have been close to 200,000 transactions on Bandzoogle powered stores. Two hundred thousand times, fans have clicked on that "buy" button, and gone through the Paypal checkout. That's a nice number that proves that there are still fans out there that are willing to pay for good music and contribute to their favorite artists' careers.
So there you have it. Keep creating music that engages fans, connect with them, and make something they'll want to pay for. And thanks for flying Bandzoogle.
and the hard working Zooglers.
★ Posted by David on September 20, 2011 | 16 comments ★