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Bandcamp Waives Revenue for 24 Hours, Musicians Earn $4.3 Million

Last week, well-liked music platform Bandcamp declared that it might be waiving its revenue shares from all sales for 24 hours, beginning Friday morning. The step was an effort to help increase revenue for the innumerable artists who’ve been struggling to make ends meet as live performances have been suspended for the foreseeable future for artists all over the world.

Bandcamp Waives Revenue for 24 Hours, Musicians Earn $4.3 Million

Friday turned out to be the biggest day for sales in the platform’s 11-year history. Artists raised $4.3 million in music and merchandise sales over the 24 hours. That comes out to over 15x Bandcamp’s average numbers on a Friday — or, as the site places, it 11 objects per second over the course of the day. In all, around 800,000 items had been sold, versus the standard 47,000.

Along with Bandcamp waiving its fees, dozens of labels, along with Anti-, Fat Possum, Merge, Polyvinyl, Saddle Creek, and Sub Pop, gave up 100% of their earnings to artists Friday.

It’s good news for creatives, many of whom are already struggling to adapt to an ever-changing online economic system. Nonetheless, it’s exhausting to say what the future appears like with so many artists confined to their homes indefinitely.

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