Bandcamp Friday began last year back in March. It was the website’s response to the coronavirus pandemic decimating several income streams for artists, producers, singers and others in the industry – who saw live gigs wiped out almost overnight.
Since then, on the first Friday of every month, Bandcamp have been waiving their fees, meaning that artists receive 93% of the money from every sale, after payment processing costs are taken off. The normal percentage, according to Bandcamp themselves, is 82%.
This compares significantly favourably to the other online retailers – for example, Beatport take a punitive 60% of every sale for themselves. And now I’m hearing whispers within the Bandcamp tribe that they’re thinking about keeping this permanently.
A source emailed to say “The bosses have been thinking about it for a while now. They don’t think the pandemic ending will hit sales, and a lot of Bandcamp Friday customers come back regularly outside those days. They’re seriously considering the idea”.
We shall see. I’ve heard of worse ideas…