With the coronavirus outbreak reeking havoc on the live music industry, artists are being hit hard by the income lost on show and tour cancelations. No ticket sales means that source of income is no longer viable to making a living, leaving album sales their only outlet of making money at the moment.
Bandcamp, for what it’s worth, is trying to do their part in helping artists through this difficult time. The company has announced that they will be waiving their revenue share for one day on Friday, March 20. From midnight to midnight, artists will be receiving 100% of what they make through the site on album and merch sales.
Writes Bandcamp Co-Founder & CEO Ethan Diamond on the site’s ‘Bandcamp Daily’ blog:
“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. With such a major revenue stream drying up almost entirely, finding ways to continue supporting artists in the coming months is now an urgent priority for anyone who cares about music and the artists who create it. The good news is that we’re already seeing many fans going above and beyond to support artists across Bandcamp.”
Diamond hopes by waiving their fee, they will be able to “rally the Bandcamp community to put much needed money directly into artists’ pockets.”
The statement continues:
“For many artists, a single day of boosted sales can mean the difference between being able to pay rent or not. Still, we consider this just a starting point. 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.”
Said ideas shared later in the post include for fans gifting albums to friends, buying Bandcamp gift cards and paying more than the asking price for items. For artists, the site directs them to articles about maximizing sales, promoting on social media and coming up with new items and services to sell.
“It may sound simple,” concludes Diamond, “but the best way to help artists is with your direct financial support, and we hope you’ll join us on Friday and through the coming months as we work to support artists in this challenging time.”