We are very excited to announce that BandPage is joining YouTube, a move which dramatically accelerates our shared goal of helping musicians everywhere thrive, BandPage says in the blog post.
BandPage is dedicated to helping musicians build their careers by growing their fan bases and increasing their revenue on the largest digital music services in the world, BandPage blog expkains the rational of the deal. By joining forces with the team at YouTube, we can help artists reach their fans in more powerful ways than ever before, it says.
Though neither party has disclosed the amount paid but a report from TechCrunch however claims that YouTube acquired BandPage for around $8 million where "stocks will be converted into cash, and common stock will be cancelled with no payment."
BandPage started as an app in 2009 letting musicians create a special Music tab on their Facebook Page. But after Facebook took away these Page apps in 2012, it saw a loss of almost 90% of its traffic in three months. It went from 32 million monthly users and being the second most popular Facebook developer behind Zynga, to just a few million.
YouTube recently launched its ad-free Red subscription service and dedicated Music app. YouTube Red charges $9.99 monthly for this ad-free continuous music.