Earlier this month, we profiled Ampled, a new platform for artists to raise money directly from fans. At the time we noted that Ampled’s original business plan initially involved taking 15% of each transaction on its platform, with the aim of lowering that cut in the future.
Now there’s been a change. “As a response to Covid-19, artists will receive 100% of support through the platform. We will waive artist membership dues for at least the rest of 2020,” announced Ampled in a blog post. “For the rest of this year, when an artist is supported on Ampled, 15% of that support will be withheld for membership dues. Then, at the end of each month, those dues will be refunded in full back to the artists.”
The post also outlines Ampled’s plans for the rest of 2020: growing its network of contributors who are helping it build out its platform; holding elections for a board of directors in December; assembling steering committees of artists; and developing a portal for its members.