As smaller bands struggle to recoup losses from touring cancellations and delays, Bandcamp last week announced that it would waive its revenue share for the entirety of last Friday (20 March). The site has since revealed that musicians made over $4 million in revenue that day.
Bandcamp wrote in a blog post: “We want to thank everyone who joined us last Friday in supporting artists and raising awareness about the impact of Covid-19 on the music community.
“The numbers tell a remarkable story: on a typical Friday, fans buy about 47,000 items on Bandcamp, but this past Friday, fans bought nearly 800,000, or $4.3 million worth of music and merch. That’s more than 15 times our normal Friday, and at the peak, fans were buying 11 items per second.”
The statement went on to thank those who spread the word about the event, and other labels and services that participated in similar efforts to support artists.
On a broader scale, the impact of the pandemic on. the music industry has been devestating. Many tours and festivals have been cancelled or postponed, and artists signed to smaller labels or no label at all are among the worst hit. The unprecedented impact has led members of the American music industry to write to Congress, asking for more aid for those working in the arts.
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