Bandcamp’s “100% Royalties for Artists” Initiative brings in millions
The so-called "Bandcamp Fridays" has turned into a true success story
Back in March, Bandcamp introduced its initiative to help musicians during the COVID-19 pandemic, but also to donate funds to NAACP Legal Defense Fund. Every first Friday of the month since March 20, 2020, this independent music platform has waived its revenue share for 24 hours.
According to the information presented by Bandcamp, four such events that it has organized so far has turned over $20 million. Rolling Stone adds that in total, fans have spent over $75 million on music and merch on the platform since the COVID-19 pandemic began.
With such a success rate, they have decided to continue its Bandcamp Fridays initiative until the end of 2020. The initiative will again be organized every first Friday of the month from August to December.
In its press release, Bandcamp says that, “we started Bandcamp Fridays back in March to support artists impacted by the pandemic, and in the past few months the music community has come together in a huge way. Because the pandemic is far from over, we’ll continue to hold Bandcamp Fridays on the first Friday of every month until the end of the year.”
Here is the list of the forthcoming Bandcamp Friday’s:
August 7th September 4th October 2nd November 6th December 4th
“It’s a good reminder that Bandcamp Fridays are really an extension of what Bandcamp is about every day,” the platform said. “Thank you to all the artists and labels who shared their music with us, and the fans who spent their hard-earned coins to support the artists they love.”