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Bandcamp Waives Fees Again to Support the Music Industry

Hey! This is a friendly reminder to all you artists and fans that today is the day that Bandcamp will be waiving its fees for the musicians featured on its site.

 

It all started on March 20, shortly after many of the coronavirus shutdowns were made official and the music community started feeling it financially. In order to help out, Bandcamp, who typically collects 15% of all revenue for music purchased on the site and 10% of all the merch, decided to waive its fees so the proceeds would go directly to the artists. In response, fans got on board and spent $4.3 million dollars in the 24 hour period, around 15 times more of what they would spend on any other Friday.

 

Because the event went so well, Bandcamp have announced three more days when it would be waiving its fees. One is, you guessed it, today, May 1. They will be repeating the initiative on June 3 and July 5. Fees will be waived for 24 hours starting at 12 AM and ending at 11:59 PM PST on all three days.

 

Here’s what Bandcamp CEO Ethan Diamond had to say about the company’s efforts. "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 is not the only music marketplace getting onboard to try and help artists during this difficult time. Spotify, who has often been criticized for the poor returns they give to artists, has announced they will be setting up a tip jar feature. This will allow fans to donate money directly to the artist or to the charity of their choice.

 

Facebook is also doing its part giving fans the option to donate money to artists in the form of a digital currency called ‘Stars’ as they live stream. Tik Tok is allowing fans to give out ‘charity stickers’. However, this will only allow the donation of money to pre-approved charities, not to the artists themselves.

 

Meanwhile, the musicians are working on their own front to try and generate revenue. An advocacy group called the Music Workers Alliance is doing their part and have created a petition aimed at the CEO’s of Google, Facebook and YouTube asking them to pledge 1% of their advertising revenue to charities that support those affected by the COVID crisis.

 

In the meantime, if you are an artist, don’t forget to mention a little something something on your socials about how today is a great day to download your music on Bandcamp. And all you fans should be checking out all the great music that’s available. The music community needs your support now more than ever. Please do your part.

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