Being in an active touring band that plays clubs and theaters, I can tell you this: Buying merch from the band at a show is the only way we make real money. Obviously you have to go to the show to do that, so I guess step one is go to the show. But buying a ticket to a show is more of a long term investment, as most bands play on a guarantee and don't see any of the ticket sales directly. Going to the show increases the head count which could translate into a bigger guarantees next time they're through town or in other markets. Everyone who commented on draw is correct, the guarantee is directly tied to your door numbers. So long term: get your butt to a show and bring every friend you can. Short term: go to the merch table and pay in cash if you can. This isnt always about avoid taxes; most venues take merch cuts, and bands can keep a little more of their money if there isn't a record of an electronic transaction. For bands I like or albums I really love, I wait to buy the record until the band comes through town.
Live Nation venues take a brutal merch cut (AEG venues are not much better) but it's still the best chance the band has to make money. The percentage paid out on retail sales is measly, royalty rates are poor these days (and labels have ways of reducing them even further), and streaming is totally negligible for most bands. Buying an album digitally from bandcamp is also great, but picking up the physical copy and a hoodie at the show is the best way to support a band.
Live Nation venues take a brutal merch cut (AEG venues are not much better) but it's still the best chance the band has to make money. The percentage paid out on retail sales is measly, royalty rates are poor these days (and labels have ways of reducing them even further), and streaming is totally negligible for most bands. Buying an album digitally from bandcamp is also great, but picking up the physical copy and a hoodie at the show is the best way to support a band.