Epic Games officially announced that it has purchased Bandcamp, the online music store and community geared around independent musicians. Although the terms of the deal were not disclosed, Epic Games, best known for developing the game Fortnite, has indicated a shared vision with Bandcamp. They both share the mission of building the most artist-friendly platform to enable creators to keep the majority of their hard-earned money. Also, Bandcamp will keep operating as a standalone marketplace and music community.
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Bandcamp co-founder and CEO Ethan Diamond outlined in a blog post:
“The products and services you depend on aren’t going anywhere, we’ll continue to build Bandcamp around our artists-first revenue model (where artists net an average of 82% of every sale), you’ll still have the same control over how you offer your music, Bandcamp Fridays will continue as planned, and the Daily will keep highlighting the diverse, amazing music on the site. However, behind the scenes we’re working with Epic to expand internationally and push development forward across Bandcamp, from basics like our album pages, mobile apps, merch tools, payment system, and search and discovery features, to newer initiatives like our vinyl pressing and live streaming services”
Bandcamp is working closely with the Epic Games Store to expand internationally and build on other fronts, including its album pages, mobile apps, merchandise tools, payment system. They are also working together on newer initiatives like Bandcamp’s vinyl pressing and live streaming services.
Over the years, Bandcamp has been approached by others looking to acquire the company; however, Diamond outlines that they weren’t interested or excited at the opportunity unless the company “strongly believed in our mission, were aligned with our values, and not only wanted to see Bandcamp continue but also wanted to provide the resources to bring a lot more benefit to the artists, labels, and fans who use the site.”
Based in Oakland, California, Bandcamp was founded in 2008 and has paid nearly $1 billion to artists and labels to date.
