To assist assist artists in the course of the pandemic in 2020, Bandcamp started waiving commissions for purchases made on the primary Friday of each month. And after , Bandcamp’s subsequent commission-free buying day
In whole, the corporate says its 17 Bandcamp Fridays thus far have paid out greater than $70 million to artists and labels in the course of the pandemic, with greater than 800,000 prospects collaborating since its begin in March 2020. Following the primary Bandcamp Friday in 2022, the subsequent slate of commission-free gross sales days will happen on March 4th, April 1st and May sixth. And in case there’s any doubt if it’s a Bandcamp Friday or not, there’s even a that may rapidly kind issues out.
Bandcamp says that in its commission-free gross sales days a median of 93 p.c of income makes its method to musicians, with the remaining 7 p.c being reserved for fee processors. Meanwhile, on a daily day, round 82 p.c of gross sales get handed on to artists and labels, leading to round a ten to 11 p.c reduce for Bandcamp (which continues to be considerably decrease than the usual 30 p.c fee tech giants like Apple and Google obtain from their app shops).
Sadly, as a result of there’s no clear finish in sight to the pandemic, it stays to be seen what occurs to Bandcamp Fridays going into the summer season and fall. And with COVID-19 infections peaking proper now in a number of components of the world, it’s actually anybody’s guess how lengthy these no-commission gross sales days may need to proceed earlier than we are able to safely return to massive in-person occasions.
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