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Bandcamp has announced they’ll be waiving their revenue share on the first Friday of the next three months – May 1, June 5 and July 3 – to support artists and labels affected by the coronavirus pandemic.
For 24 hours from 8am BST on each date, money spent on music and merch on the site will go directly to artists and labels, with Bandcamp promising that it will reach them in within 24 to 48 hours.
The music distribution platform typically take a 15 per cent share of digital sales and 10 per cent from merchandise.
To keep supporting musicians during the Covid-19 pandemic, we are waiving our revenue share on all sales this Friday, May 1, from midnight to midnight PDT. Let’s come together as a community to put money directly into artists' pockets: https://t.co/hPhgm7WBR4 pic.twitter.com/DG6KYI2IN5
— bandcamp (@Bandcamp) April 27, 2020
Bandcamp had previously announced they would be waiving their Friday May 1 share after a first time waive cut on March 20 resulted in fans spending some $4.3 million on music and merch that day, around 15 times the usual revenue for a Friday.
“It may sound simple, but the best way to help artists is with your direct financial support, and we hope you’ll join us through the coming months as we work to support artists in this challenging time,” commented Bandcamp CEO Ethan Diamond in the news announcement to the website.
As with the last time Bandcamp waived their share of sales, multiple record labels have already gotten on board to support the initiative.
Sub Pop, Jagjaguwar and Polyvinyl are among the labels promising to forward their cut of digital sales this Friday (May 1) directly to artists on their roster.
This Friday May 1st, we're joining our friends @Bandcamp in donating
% of digital Bandcamp sales revenue to our Sub Pop artists. Plan accordingly!https://t.co/eztmICjSHp pic.twitter.com/MrJDHjfw2U
— Sub Pop Records (@subpop) April 27, 2020
Coronavirus continues to take an unprecedented financial toll on musicians around the globe, with countless gigs, tours and festivals cancelled or postponed worldwide.
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