The streaming and music hosting website Bandcamp have announced it will waive its cut of sales that artists make on their site for the first Friday of the next three months.
With tours coming to a halt due to the current pandemic, bands are losing the expected profits they would have made from performing live which has made it gravely difficult for artists to make a living from music in this climate.
Typically, Bandcamp takes a 15 per cent cut on sales through the platform, and an extra 10 per cent on merchandise. Following last month’s success where they trialled waving their cut of sales that saw 800,000 items sold (compared to an average 47,000 usually) and £3.4 million raised the site originally announced it was doing it again on May 1st, which has now been extended through to July.
“With such a major revenue stream drying up almost entirely, finding ways to continue supporting artists in the coming months is an urgent priority for anyone who cares about music and the artists who create it,” Bandcamp CEO and co-founder Ethan Diamond said in a statement.
Adding: “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.”
Immediately after the triumph which was the original trial of this, Diamond was immensely proud of what Bandcamp had achieved for independent artists around the world who many are likely to be struggling to make this month’s rent: “For many artists, a single day of boosted sales can mean the difference between being able to pay rent or not.”
He continued: “Musicians will continue to feel the effects of lost touring income for many months to come, so we’re also sharing some ideas…on how fans can support the artists they love and how artists can give fans new, creative ways to provide support.” More information on the event will arrive next week.
Get involved this Friday and treat yourself to something from one of your favourite independent artists.