The COVID-19 pandemic has been devastating to the music industry with mass cancellations of clubs and festivals across various major markets. Many industry professionals have been going without a paycheque and will be for the foreseeable future. Asia has been especially hard hit, with cancellations starting as far back in February.
Bandcamp has come forward with a plan to show support and solidarity for the artists being hit by these financial burdens. On Friday March 20, the company will forego their 10-15% income on all sales, having them go directly to the artists instead.
A statement from Ethan Diamond, the companies CEO, was released with the announcement:
"To raise even more awareness around the pandemic's impact on musicians everywhere, we're waiving our revenue share on sales this Friday, March 20 (from midnight to midnight Pacific Time), and rallying the Bandcamp community to put much needed money directly into artists' pockets."
The platform has also compiled suggestions of further ways artists can be assisted, including fans gifting their favourite music and merch to friends and providing an artist guide with tips on boosting sales.
While simply a starting point, this gesture could go a long way to help artists that will lose all touring revenue for the immediate future. No other DSP's have made any announcement in regards to helping out artists on their platforms.
Read Bandcamp’s full post here and be sure to support your favourite acts by purchasing their music directly through Bandcamp on March 20.