We announced today several exciting findings from the more than 3,000,000 items that we distribute on your behalf to your fans across services including Spotify, Shazam, Rhapsody, Lyricfind and more. While the debate around streaming royalties continues, early data that we have seen from our network suggests that there is a massive opportunity to increase revenue for musicians across the major music services by displaying offers to fans while they are streaming music or engaging with artists across major music platforms. This finding points us in an exciting direction about the future of monetizing the engagement around the stream.
BandPage now has the potential to deliver over one billion impressions each month across our partner network. Musicians receive average daily impressions through the BandPage network that are more than 10 times higher than the impressions they receive on their own websites. This is because these services have truly massive scale and their fans are incredibly engaged in everything you have to offer them. The offers distributed through the BandPage network are seeing average click-through rates that are 5 times higher than typical online channels and conversion rates up to 3 times higher than online retailer averages. We’ve seen some artists make upwards of $1,000 per day through our network, indicating that there is significant revenue to be made on these services in addition to streaming royalties.
These findings are derived from all of the different items musicians put up for sale on BandPage including pre-sale offers, VIP meet and greets, online concerts, t-shirts, vinyl, crowdfunding campaigns and more. They come from musicians ranging from emerging artists to some of the largest musicians in the world including Ed Sheeran, Toby Keith, Nicki Minaj, Miranda Lambert and thousands more.
It’s been really exciting to be partners with these great music platforms to get to this point. 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. We are starting to see statistically significant data which shows that there is a massive revenue opportunity for musicians and we couldn’t be more excited to continue to make that a reality for musicians everywhere.
J and the BandPage team