Bandcamp has announced that it will waive all revenue shares on music sales for 24 hours on March 20th, Pacific Time.
The action is designed to “put much needed money directly into artists’ pockets,” in the midst of the COVID-19 outbreak.
Bandcamp will be directing the revenue of all sales straight to musicians for 24 hours on March 20th. The initiative aims to support artists in the midst of the COVID-19 outbreak.
It is a welcome initiative in the music industry, since many artists are currently struggling with touring restrictions and cancellations.
Bandcamp typically collects 15% of all digital music sales, while a further 10% is accrued through sales of physical goods. These revenue shares will be completely waived for this 24 hour period.
Bandcamp co-founder and CEO, Ethan Diamond, released a statement on the platform’s website. “The COVID-19 pandemic is in full force, and artists have been hit especially hard as tours and shows are being canceled for the foreseeable future. For many artists, a single day of boosted sales can mean the difference between being able to pay rent or not.”
As the COVID-19 crisis develops, more and more people in the industry will begin to feel its adverse effects. Consequently, it becomes increasingly important to find ways to support those affected. Getting involved in initiatives such as this one is a good place to start.
You can read more info on the Bandcamp website. Meanwhile, you can read more COVID-19 stories here.