Bandcamp Is Suspending Its Revenue All Day to Help Out Bands Amid Coronavirus Gig Cancellations

Bandcamp, the music streaming platform favored by DIY musicians, is waiving all of their revenue shares for 24 hours today, March 20, in order to help out musicians using their platform who may have fallen on particularly hard times due to the coronavirus pandemic cancelling gigs and causing mass-layoffs.

“The COVID-19 pandemic is in full force, and artists have been hit especially hard as tours and shows are being canceled for the foreseeable future,” Bandcamp co-founder and CEO Ethan Diamond wrote in a statement. “For many artists, a single day of boosted sales can mean the difference between being able to pay rent or not.”

It’s heartening that a platform popularized by independent musicians and producers is giving back to the community that sustains it, especially considering the mass loss of revenue across the music industry due to festival and tour cancellations. Many independent musicians are also at risk of losing their day jobs, with 18% (and growing) of Americans losing their employment or hours due to the pandemic.

On a broader scale, LiveNation stock dropped nearly 50% after all of their touring and live shows were called off due to the pandemic. SXSW also let go of one-third of their year-round staff after the physical festival was called off earlier this month.

Take the time to browse Bandcamp and support your favorite local acts, your friend’s music project or musicians you admire from afar in order to spread some much-needed funds to artists. Bandcamp is waiving all of its revenue shares until midnight.