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Bandcamp To Support Artists By Waiving Revenue Share Considering COVID-19 Pandemic
Between tour and show cancellations, postponed releases and shuttered music festivals, the impact of the coronavirus pandemic continues to have grave consequences on the music industry. Due to the unforeseen circumstances that the epidemic is presenting, many artists, musicians and other personnel are facing major financial losses.
Announced on Tuesday (Mar. 17), music discovery and streaming platform Bandcamp is making a push to shed awareness on the issue and further support artists during this time by lifting their revenue shares on artist profits from music and merchandise sales via the platform.
In a statement regarding the effort, Bandcamp Co-Founder and CEO Ethan Diamond wrote: "With such a major revenue stream drying up almost entirely, finding ways to continue supporting artists in the coming months is now an urgent priority for anyone who cares about music and the artists who create it."
He continued by emphasizing that many artists will feel the brunt of coronavirus long beyond periods of quarantine and social distancing. The best way to support artists he says, is through direct financial support, as one day of boosted sales can make a world of difference for any musician or their band.
Additionally, fans can further support the initiative by using the platform to send music to friends and family as a "gift," purchasing BandCamp gift cards, discovering new artists to support with merch and music purchases via BandCamp Daily or their physical inventory, which includes a selection of over 800,000 cassettes and vinyl.
All revenue shares on the platform will be waived on Friday, Mar. 20 from midnight to midnight Pacific Time, excluding artists subscription payments and vinyl pressing campaign pledges.
For more information on ways that you can extend support to artists, your local creative communities and music industry workers during the Coronavirus crisis, visit https://bandcamp.com/.
In support of keeping the music community alive and thriving, you can also donate to the MusiCares COVID-19 relief fund here.
More coronavirus coverage: Glastonbury, Bonnaroo, Coachella and Stagecoach, Ultra Music Festival, SXSW, Lollapalooza Argentina, Something In The Water, Treefort Music Fest, Afro Nation Puerto Rico, Brussels' Listen! Festival, Record Store Day and several other major events and festivals around the world have been called off or rescheduled in light of the ongoing pandemic.