Variety recently reported that Sofar Sounds bounced back after an especially tough go during the pandemic, paying out more than $30 million directly to artists in the time since.
But that only counted commissions paid out directly to artists, including the $100 minimum guarantee they promise performers. That’s relatively nothing compared to the overall revenue figure they announced on the Sofar blog this month. The company shared that since 2020, a cool $650M was generated in merchandise and ticket sales via their platform.
It’s unclear how much of this $650M is from only merchandise, but the point stands: That is a whole lot of merch.
PS. An added tip for artists: Many who promote and perform using SoFar Sounds tools are also recording their SoFar Sounds performance and selling downloads of the sessions via Amazon Music.