Music Industry News

Bandcamp Sales Top $20 Million During the Past Month Alone

Photo Credit: Agnieszka Kowalczyk Bandcamp sales top $20 million as the site flourishes during the pandemic. That’s mostly thanks to its commitment to supporting its artists. The online music retail platform sells .mp3 downloads, vinyl records, CDs, cassettes, and even merchandise. Bandcamp only collects a 15% revenue share from all its sales – that’s less […]

Music Industry News

California Allows Record Stores to Reopen — With Conditions, Of Course

(photo: Clay Banks) As part of its plan to gradually lift COVID-19 restrictions, California is allowing record stores to reopen. However, government officials have laid out bolstered sanitization protocols and health-oriented guidelines for businessowners, their employees, and customers. Businessowners are directed to these measures through California’s “Resilience Roadmap” webpage. Per the entry, the state has […]

Music Industry News

Seattle’s Iconic Bop Street Records Is Going Out of Business

Photo Credit: Unsplash Seattle’s iconic Bop Street Records is permanently closing its retail store as a result of economic strains stemming from the novel coronavirus crisis. Bop Street founder and owner Dave Voorhees recently took to Facebook to make the unfortunate announcement. His Ballard, Seattle, storefront will shut down “by June 30th,” per the mentioned […]

Music Industry News

Record Store Day Isn’t Getting Cancelled In Britain — Here’s the New Plan

(photo: Jamakassi) Record Store Day UK organizers are preparing to carry out their much-anticipated event while also adhering to social-distancing guidelines and assuring the safety of both employees and customers. Record Store Day UK (RSD UK) planners revealed their updated plans today, and a copy of the new schedule was shared with Digital Music News. […]

Music Industry News

Guitar Center Suffers Major Ratings Downgrade from Moody’s: ‘Leverage Remains High and Cash Flow Is Limited’

One of Guitar Center’s stores, in Houston, Texas. (photo: Brian Reading) Moody’s has downgraded the credit rating of Guitar Center, and the Westlake Village-based music retailer is continuing to struggle financially amid the coronavirus (COVID-19) crisis. First, Moody’s reduced Guitar Center’s corporate family rating (CFR) — or its “ability to honor all of its financial […]

Music Industry News

Amoeba Music Raises $160,000 In 2 Days — And Counting

Music fans and loyal customers have contributed over $160,000 and counting to the GoFundMe campaign started by famed record store brand Amoeba Music earlier this week. This impressive early showing of financial support has resulted from the contributions of approximately 3,700 individuals – multiple celebrities and noteworthy figures among them. Chris Rock’s $5,000 pledge is […]