The previous eight or so months have been profoundly troublesome for musicians. With touring floor to a halt and streaming providers providing fractions of cents, livelihoods have been totally upended for numerous artists. Since March, nevertheless, Bandcamp has been a uncommon beacon for a lot of musicians.
On the primary Friday of each month, the service has waved its charges, letting artists and labels reap the advantages within the course of. Over the course of 9 such Fridays, the service has generated some $40 million, as almost 800,000 individuals have bought music on these days. Artists have acquired, on common, 93% of the proceeds (transaction charges making up the rest), versus 82% on regular days.
Whereas the arrival of vaccines are a purpose to be hopeful, it’s clear we’re not out of the woods but. As such, the service introduced at this time that Bandcamp Fridays might be prolonged no less than by way of Could of 2021. These dates embrace, February 5, March 5, April 2, and Could 7.
Different on-line providers have been much less proactive. In July, Spotify CEO Daniel Ek advised the media, “Some artists that used to do nicely previously might not do nicely on this future panorama, the place you’ll be able to’t file music as soon as each three to 4 years and assume that’s going to be sufficient.”
Despite criticism round music royalty funds, Spotify has spent tons of of hundreds of thousands to bolster its library of unique podcasting content material.