Bandcamp announce further measures to help support musicians
On March 20, Bandcamp became one of the first companies to publicly support musicians and artists in the wake of the global pandemic. Bandcamp waived their fees and gave all of the profits made that day to them. According to internal Bandcamp numbers it raised over $4 million and in response, the company is doing something even bigger, by extending their share waiver across 3 dates over the next few months.
On the move to waive their revenue share Bandcamp CEO and Co-founder Ethan Diamond said: "the pandemic and its impact on the music community aren’t over, so on May 1, June 5, and July 3 (the first Friday of each month), we’re waiving our revenue share for all sales on Bandcamp, from midnight to midnight PDT on each day."
Outside of the current circumstances Bandcamp usually takes 15% on digital sales of music and 10% on all merchandise sales via the website.
In a statement on the Bandcamp website Diamond also said, “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.”
The new measures will start this Friday and continue through until July. Bandcamp has reiterated that they will try other methods and schemes to support the artists that use their platform.
For more info regarding Bandcamp's plans, click here.