Bandcamp have introduced that their Bandcamp Fridays initiative has raised over $40 million (£29.68 million) in 2020 for artists and labels throughout the coronavirus pandemic.
The web music platform and distribution service launched the initiative back in March to help these musicians whose livelihoods have been disrupted by the pandemic, with Bandcamp waiving their income share to make sure that as near 100% of the income as doable from fan purchases, downloads and merch goes on to artists and labels.
Following 9 profitable Bandcamp Fridays, Bandcamp confirmed yesterday (December 15) that their initiative has helped increase over $40 million for artists and labels this 12 months.
The location additionally confirmed that they are going to proceed to stage Bandcamp Fridays in 2021, with the primary dates – February 5, March 5, April 2 and Could 7 – additionally being introduced for subsequent 12 months.
Followers paid artists $40 million throughout the 9 Bandcamp Fridays we held this 12 months. Large because of everybody who participated, right here’s what we’re doing in 2021: https://t.co/0KcZi3LKOj
— bandcamp (@Bandcamp) December 15, 2020
“When you’ve began to really feel responsible about shopping for music on any day apart from Bandcamp Friday, right here’s one thing to bear in mind: on Bandcamp Fridays, a median of 93% of your cash reaches the artist/label (after fee processor charges),” the positioning defined in an announcement.
“While you make a purchase order on some other day of the month (as 2.5 million of you’ve gotten since March, shopping for a further $145 million price of music and merch) a median of 82% reaches the artist/label. Day-after-day is an effective day to immediately help artists on Bandcamp!”
Yow will discover out extra about Bandcamp Fridays here.
Again in October, the UK charity Help Musicians extended their financial hardship support fund until March 2021 to help these musicians who’re struggling financially throughout the coronavirus pandemic.