- 28 Apr 20
The alternative music purchasing platform will funnel its cut directly to the artists.
Once again proving the MVP of music purchasing during the Coronavirus, Bandcamp has announced that they will waive their cut of every purchase in order for artist's to make more money on the first Friday of every month, until July.
From Midnight pacific time, for 24 hours, all money spent on music and merchandise from the website will go directly into the pockets of the artists. The company typically takes 15% from digital music sales and 10% from merchandise. The last time the company waived shares, fans reportedly spent $4.3 million on music and merch.
“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,” said Bandcamp CEO Ethan Diamond in the announcement.
This is welcome news, considering most gigs and festivals will be cancelled or postponed until early Autumn.