The company is revealing they will be waiving their revenue share on May 1, June 5 and also July 3 to consistently drive sales to help out struggling musicians.
Their first shot at helping out by cutting their share of profits was a massive success. The organization ended up bringing in a total of $4.3 million for bands over the course of the day with 800,000 sales taking place.
“To raise even more awareness around the pandemic’s impact on musicians everywhere, we’re waiving our revenue share on sales this Friday, March 20th (from midnight to midnight Pacific Time), and rallying the Bandcamp community to put much-needed money directly into artists’ pockets,” the company wrote at the time.
Then, an email was sent out informing people that they would be getting another shot at bringing in big numbers like this for struggling musicians.
A few Friday’s ago, we waived our revenue share to help artists and labels impacted by the Covid-19 pandemic. The Bandcamp community went above and beyond, spending $4.3 million on music and merch in just 24 hours. It was an inspiring day, and we heard many requests to do it again so we’re going to do exactly that (and a bit more).
We’ll announce the details of this initiative to everyone next Monday, but we wanted to give our artists and labels and heads up that the first step is coming soon: on Friday, May 1st, we are going to waive our revenue share again. Stay tuned for more information next week, and be sure to check out our new Bandcamp Artist Guide for recommendations that will help you maximize your sales on May 1st and beyond.
Now, details are being laid out for how they plan to keep helping artists out throughout the pandemic.
On May 1, June 5 and July 3 from midnight to the following midnight PDT, all revenue will go directly to artists.
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
Co-founder and CEO Ethan Diamond wrote a statement on their site explaining why they are intending to do this initiative again.
“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.”
You can read the full statement here.
UPDATE: MAY 1, 2020, 12:34 A.M. ET
In addition to Bandcamp waiving their share of the profits, the independent record label UNFD announced that they are extending the initiative for their artists throughout the month of May.
From Friday May 1st -Sunday May 31st (all timezones) UNFD will be passing 100% of the revenue made from Bandcamp directly to our artists.
If you have the ability to do so, please use this opportunity to support any independent artist at a time when they need it most.
Loads of great bands and labels sharing their Bandcamp links today, and we're joining the chorus.
— UNFD (@unfdcentral) May 1, 2020
One of their artists, Frank Iero is very excited about the news.
This is rad… @bandcamp is waiving their fees and @unfdcentral is following suit directing all proceeds to the artists. If you can afford to do so, please support your favorite artists in this trying time. Much respect to those finding ways to help those in need, now more than ever.
keep the faith xofrnk
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This is rad… @bandcamp is waiving their fees and @unfdcentral is following suit directing all proceeds to the artists. If you can afford to do so, please support your favorite artists in this trying time. Much respect to those finding ways to help those in need, now more than ever. keep the faith xofrnk
So, help out some UNFD artists and head here.
What do you think of Bandcamp announcing they will be waiving their revenue share multiple times over the next few months? Let us know your thoughts in the comments below.