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Bandcamp Will Continue To Waive Its Revenue Shares On May 1, June 5 & July 3
Bandcamp has announced that it will continue to waive its revenue fees on specific dates in support of musicians as the COVID-19 pandemic continues.
The music publishing platform will waive its revenue share on the first Friday of every month from midnight to midnight Pacific Standard Time on all sales over the next few months. On May 1, June 5 and July 3, musicians on the platform will receive 100 percent of revenue for music and merchandise. Typically, Bandcamp keeps 15 percent of revenue for digital sales and 10 percent for merchandise.
Musicians across the country have experienced loss of income, particularly where live music is concerned, a major revenue stream for many. On March 20, the platform first waived its fees, with the exclusion of artists subscription payments and vinyl pressing campaign pledges, for 24 hours to aid musicians' income. As a result, Bandcamp earned $4.3 million worth of music and merch. Co-Founder and CEO Ethan Diamond said the revenue was thanks to fans who were "buying 11 items per second" that day.
The platform understands the effects of the pandemic won't be over soon and wants to continue supporting music artists. "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," Diamond said in a statement.
MORE RESOURCES FOR MUSIC CREATORS & PROFESSIONALS:
Resources For Music Creators & Professionals Affected By COVID-19: West Region
Resources For Music Creators & Professionals Affected By COVID-19: East Region
Resources For Music Creators & Professionals Affected By COVID-19: South Region