How I Built This with Guy Raz How I Built Resilience: Ethan Diamond of Bandcamp
Apr 8, 2021
Ethan Diamond, CEO and co-founder of Bandcamp, shares his journey in revolutionizing music sales for independent artists. He delves into how Bandcamp emerged from a chaotic music landscape, ensuring artists are prioritized over profit. Ethan highlights the impact of virtual concerts during the pandemic and the success of Bandcamp Fridays, where all fees are waived to support musicians directly. His commitment to sustainability and community-building shines through as he reflects on the unique challenges and opportunities within the evolving music industry.
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Bandcamp's Origin Story
- Ethan Diamond's inspiration for Bandcamp came from a frustrating experience buying an album online.
- The band's website crashed, the download was a low-quality zip file, and the entire process highlighted the need for a better system.
People Will Pay for Music
- Despite the prevailing belief that music would become free, Diamond believed in direct artist support.
- Early Bandcamp sales data, showing purchases originating from searches for free downloads, validated this belief.
Mission Over Growth
- Bandcamp prioritizes its mission of serving artists over rapid growth or scaling.
- This artist-centric approach has led to profitability and strong community support, with artists urging Diamond not to sell.
