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It also could be a purely financial decision. Bandcamp claimed $51m in revenue (I assume gross?) in 2016 [1] and, per reporting, had about $20m in net revenue
by x0x0 3y ago
It also could be a purely financial decision. Bandcamp claimed $51m in revenue (I assume gross?) in 2016 [1] and, per reporting, had about $20m in net revenue in 2022 [2]. With the reported 210 employees, that's $95k in net revenue (not profit -- wages / costs are not yet accounted for) per employee. That is very low. You could easily see an acquirer wanting to be more profitable and cutting things like editorial.
[1] https://blog.bandcamp.com/2016/05/19/bandcamp-downloads-streaming-and-the-inescapably-bright-future/ https://blog.bandcamp.com/2016/05/19/bandcamp-downloads-stre...
[2] https://www.fastcompany.com/90951664/bandcamp-spotify-vinyl-renaissance https://www.fastcompany.com/90951664/bandcamp-spotify-vinyl-...
- mhitza 3y agoNot sure who's getting laid off, but for me in the past the Bandcamp Weekly show was the one that gave me opportunities to explore new genres and artists. I think their shows have a positive impact towards the platforms, buyers, and artists.
- zztop44 3y agoAgreed. It’s one of the best music shows out there. Selfishly I hope Andrew Jervis wasn’t laid off but realistically it’s hard to imagine everything continuing as before with 50% of the company gone.
- mcrwfrd 3y ago100% really hope Andrew Jervis is able to keep his show going. So much of the music that I keep coming back to is music that I discovered through his show!
- ngcazz 3y agoIt should be ok to not be exceedingly profitable. Bandcamp produced loads of amazing valuable content. But greedy maniacs will always hate this. I am reminded of the Craigslist leadership who was mad insulted for the conscious decision to impose an upper bound to their growth which is a refreshingly moral thing to do under capitalism
- x0x0 3y agoIf the median wage you can pay is capped at maybe $70k-ish, it's delusional to call someone a "greedy maniac".
- PH95VuimJjqBqy 3y agomedian ... capped ... does not compute.
- local_crmdgeon 3y agoI'm excited for this vein of Leftism to end. We're seeing the DSA get chucklefucked due to their 10/7 Attack response, and we're seeing their NIMBY allies get chucklefucked in the legislatures. Hopefully some new, more productive and positive ideology emerges.
- noobermin 3y agoI don't understand how people can say things like this where companies don't even make a profit like uber year after year yet no one wonders why they have the shop they do.