Vinyl and cassette sales see double digit growth
[Photo by: Pexels]

Last Friday, Bandcamp waived their revenue share for artists for the second time and after the massive success of their first run, they’re revealing the new numbers.

According to the platform, fans spent $7.1 million in just 24 hours marking an increase for profits going towards artists from the last time they did this.

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The first time the platform ran this promotion, they ended up bringing in a total of $4.3 million for artists with 800,000 sales taking place.

That marked an increase of 15 times their normal Friday sales numbers.

Now, they’re revealing they brought in $7.1 million marking an increase of $2.8 million from last time.

CEO and co-founder Ethan Diamond gave a statement on their website discussing the new success.

“On March 20, 2020, we waived our revenue share in order to help artists and labels impacted by the pandemic. The Bandcamp community showed up in a massive way, spending $4.3 million on music and merch—15x the amount of a normal Friday— helping artists cover rents, mortgages, groceries, medications, and so much more. It was truly inspiring.

On May 1, 2020, we did it again and fans paid artists $7.1 million – amazing!

But the pandemic and its impact on the music community aren’t over, so on 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.

Musicians will continue to feel the effects of lost touring income for many months to come, so we’re also sharing some ideas below on how fans can support the artists they love and how artists can give fans new, creative ways to provide support.

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.”

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As previously reported, Bandcamp is doing their waiving of revenue fees again on June 5 and July 3. The sales take place from midnight to the following midnight PDT.

What do you think about the amount of money people spent on Bandcamp last Friday? Let us know your thoughts in the comments below.

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