On-line music platform Bandcamp has introduced that it’ll proceed its ‘Bandcamp Friday’ initiative for the remainder of 2021.
The web music platform and distribution service launched the initiative back in March 2020 to assist these musicians whose livelihoods have been disrupted by the coronavirus pandemic, with Bandcamp waiving their income share to make sure that as near 100 per cent of the income as potential from fan purchases, downloads and merch goes on to artists and labels.
CEO Ethan Diamond mentioned that the 13 Bandcamp Fridays thus far have “paid artists and labels $56million (£40million), serving to cowl rents, mortgages, groceries, medicines, and way more. Should you’re among the many almost 800,000 followers who participated, thanks.” He went on to substantiate that they’ll proceed till December this 12 months on the earliest.
He added: “Should you’ve began to really feel responsible about shopping for music on any day aside from Bandcamp Friday, right here’s one thing to remember: on Bandcamp Fridays, a mean of 93 per cent of your cash reaches the artist/label (after fee processor charges).
“If you make a purchase order on some other day of the month (as 2.5million of you may have since March, shopping for an extra $190million (£136.5millon) value of music and merch) a mean of 82 per cent reaches the artist/label. Daily is an efficient day to immediately assist artists on Bandcamp!”
Bandcamp said at the end of 2020 that their initiative helped raise over $40million (£28.7million) for artists and labels that year. The subsequent Bandcamp Friday will happen on the finish of this week on August 6.
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