Since March, online music retailer Bandcamp has raised $40 million (around P1.9 billion) to help artists and labels in the music industry faced with the COVID-19 pandemic.
The sum was raised thanks to an initiative launched by Bandcamp at the beginning of the pandemic, a time when the cancellation of concerts and festivals brought a wave of panic to the music industry. In response, the online music marketplace committed to waiving its fees on the first Friday of every month, giving nearly 100% of all sales to artists and labels. This gesture of solidarity was widely applauded by the music community, coming at a time when music streaming platforms are increasingly in the spotlight …
Keep on reading: Bandcamp raises $40 million for artists and labels