YouTube, in an effort to diversify the revenue streams of its musical creators, has announced a new acquisition. The video site has scooped up BandPage, which let musicians offer merchandise and concert tickets to their fans across multiple platforms.
BandPage, which launched in 2009, was initially tied closely to Facebook, but after a change to the social media site’s layout, it was forced to roll out to include other platforms. Now, its users can connect with fans on Spotify, SoundCloud, YouTube, Twitter, and several other platforms. From those starting points, fans are directed to merch, ticketing, and offer pages through the BandPage interface.
YouTube’s acquisition of BandPage could be a big boon for the site’s musical creators. Most professional videomakers now understand that ad revenue is an inefficient revenue stream, especially when compared to more lucrative ventures like merchandise and live events. That understanding has led a rise in creator-focused mobile apps, such as those created by Victorious and Beachfront, which allow YouTube users to unite their fans and drive them toward the revenue streams with the highest potential. BandPage, which accomplishes a similar sort of activity, fits into this money-making model.
“YouTube already offers a global distribution platform for any artist to be discovered and some of the best self-publishing tools for musicians and other creators,” reads a post on the BandPage blog. “The team has a lot of things planned to help musicians succeed on the platform, and more broadly across the BandPage network.”
UPDATE: TechCrunch has pegged the price of the acquisition at $8 million.