Bandcamp Waived Fees For 2nd Time: Seeing $7.1 Million In Direct Sales For Artists
Last week Friday as Bandcamp waived their fees on May 1st, the company saw a whopping $7.1 million in sales that go directly to the artists.
In March, Bandcamp announced they had decided to waive all fees from their sales for a 24 hour period on the 20th of March; this meant that all sales made on Bandcamp on that day would result in complete direct-to-artist payment, in a bid to support all artists as the music (and creative) industry sadly finds itself in absolute financial turmoil, with mass amounts of people losing their livelihoods due to the global pandemic.
In an incredible result, in one 24-hour period of fees being waived – a whopping $4.3 million was spent, with the company sharing that an estimated 800,000 items were sold. Along with Bandcamp themselves, multiple independent labels announced they will be waiving their own fees as well, with all revenue going toward supporting artists or various charities that are related to COVID-19 artist relief funds.
Following this success, Bandcamp waived their fees again on May 1st – and this time, as a community, we managed to break the incredible record of $4.3 million in sales, with the company announcing that a groundbreaking $7.1 million was spent on the site in 24 hours: an outstanding $2.8 million increase as opposed to March 20th.
Update on last Friday's campaign: Fans paid artists $7.1 million in just 24 hours ($2.8m more than March 20th). Thank you for supporting artists impacted by Covid-19, and mark your calendars for the next #BandcampFriday on June 5th! https://t.co/hPhgm7WBR4— bandcamp (@Bandcamp) May 4, 2020
Bandcamp have also shared they will be waiving fees with direct-to-artist revenue yet again for two additional Fridays for the next two months. On June the 5th and July the 3rd, for a full 24 hours (pacific time) all revenue from purchases on Bandcamp will go directly to the artists.
This type of support for our music community from companies and individuals shows us the true power we have to support each other through such a difficult and scary time.
Be sure to head to head to Bandcamp on June 5th, and let’s see if we can once again break the incredible $7.1 million record of direct-to-artist sales. We all need each other now more than ever, so let’s show as much support as we are able to!