Bandcamp — a favorite of indie artists and labels — says it will forgo collecting is share of revenue from sales on Friday to help boost profits for musicians struggling amid the coronavirus pandemic.
Bandcamp typically collects 10 to 15% of music and merch sales made through the site, but will waive that share for one day in order to boost profits for artists and labels.Bandcamp, the digital storefront and streaming music platform used by hundreds of thousands of artists and thousands of record labels, will forgo collecting its share of revenue from sales on the site made this Friday, March 20,on Tuesday. The initiative will be active from 12:00 a.m. to 11:59 p.m Pacific time.
The global coronavirus outbreak has put many musicians in a state of extreme financial precarity as their main source of income, live performance, has been suspended while the world struggles to contain the pandemic."For many artists, a single day of boosted sales can mean the difference between being able to pay rent or not," Ethan Diamond, the CEO and co-founder of Bandcamp, writes."Still, we consider this just a starting point.
Typically, Bandcamp collects 15% of the revenue from sales of digital music made through its website and
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