Bandcamp, the world’s largest online music marketplace and community, has announced that its latest Bandcamp Friday, which took place on 1st August, generated over $3.5 million for independent artists in just 24 hours.
Celebrating its fifth anniversary this year, Bandcamp Friday was launched during the Covid-19 pandemic to support independent acts. On these selected Fridays, Bandcamp waives its share of revenue, so all artist and label proceeds from music and merch sales go directly to them.
The 1st August event, and third of the year, was another standout moment in the Bandcamp Friday series. It follows the previous event on 2nd May, which generated $3.2 million in 24 hours, as Bandcamp Fridays continue to support emerging artists.
Since its inception in 2020, Bandcamp Fridays have generated over $140 million - and counting.
While Bandcamp Friday may only last 24 hours, fans support artists on Bandcamp 24/7, 365 days a year. Bandcamp’s fair payment model sees an average of 82% of every purchase routed directly to the musician or label - typically within 24-48 hours.
“After five years it’s fantastic to see another successful Bandcamp Friday,” said Dan Melnick, general manager of Bandcamp. “Over $3.5 million generated in just 24 hours is a testament to the artists using Bandcamp for their music and merch, but also the loyal fans supporting them, knowing we waive our share of revenue on this day. As an artist-first community, we’ve continued to be on the front line of direct artist support, not just on our Bandcamp Fridays, but 24/7, all year round, as artists should always be paid fairly for their work.”
Bandcamp Friday returns again on 1st September.