It has been a record setting year for Bandcamp, who once again beat their sales record after waiving their revenue shares for artists on its platform. Artists and record labels using the site made a projected $7.1 million on Saturday May 1st, smashing their previous record on march 20th, which generated sales of $4.3 million.
The platform had first waived their revenue shares on March 20th, to help support artists who are currently unable to tour or release music during ther COVID-19 pandemic. The first fundraiser waived revenue shares for 24 hours, and eventually encouraged the platform to repeat this process during the next couple of months.
Bandcamp will be waiving shares once again on June 5th and July 3rd, allowing artists and labels to receive 100 percent of the revenue generated from purchases made on the site. During this latest event the website sold 800,000 items, which is more than 15 times its usual product output during an average Friday.
“Update on last Friday’s campaign: Fans paid artists $7.1 million in just 24 hours ($2.8m more than March 20th). Thank you for supporting artists impacted by Covid-19, and mark your calendars for the next,” the platform wrote on Twitter.
Bandcamp unveiled a vinyl pressing service last year, which saw the release of Christian Scott Tunde Adjuah’s Ancestral Recall, Jim Guthrie’s Below (Original Soundtrack), Juliette Jade’s Constellation, and Mesarthim’s Ghost Condensate.
This is also not the first time that the platform has engaged in a philanthropic event. Back in 2017 the company launched a fundraiser in support of the American Civil Liberties Union (ACLU).
Leave a Comment