On May 1, Bandcamp waived its revenue shares for for a second time. For a full 24 hours, the site directed 100% of revenue to artists in an effort to help musicians whose financial stability has been affected by the spread of COVID-19. Now, Bandcamp has revealed that $7.1 million was spent on the site that day. Check out the announcement below.
Bandcamp first waived its revenue shares on March 20, which resulted in what was then the biggest sales day in Bandcamp’s history. A total of $4.3 million was spent on the site in the 24-hour period. The company announced that roughly 800,000 items were purchased, marking more than 15 times their sales on a typical Friday. There were also a number of independent record labels that joined Bandcamp on March 20 in directing all revenue to their artists, including Ghostly International, Captured Tracks, Joyful Noise, and many more.
Bandcamp will continue to direct revenue shares to musicians for an additional two Fridays. On June 5 and July 3, customers can once again ensure that their money will directly support artists for a full 24 hours (from midnight to midnight Pacific).
Read “Why Record Stores Are Being Hit Especially Hard By Coronavirus” over on the Pitch.
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