Epic Games Sell Bandcamp One Year In
Sep 29, 2023 10:31 pm
As reported by Pitchfork, Epic Games has recently completed the sale of Bandcamp to Songtradr, a prominent player in the music marketing arena. This transaction comes 18 months after Epic Games initially acquired the platform. In a blog post detailing the acquisition, Songtradr emphasised its commitment to preserving Bandcamp's identity as a thriving marketplace and vibrant music community, focusing strongly on empowering artists with a revenue-sharing model that places them at the forefront.
Songtradr, known for its music licensing platform and marketplace expertise, views this acquisition as a unique opportunity for Bandcamp artists. It opens doors to securing licensing agreements, even potentially with Epic Games, fostering continued collaborations on exciting projects like Fortnite Radio. When questioned about potential changes to artist revenue shares, user experience, or the future of Bandcamp Daily, Songtradr chose not to provide specific details at this time. Similarly, Epic Games remained tight-lipped about the sale, referring inquiries to their official public announcement.
The sale coincided with the announcement of significant restructuring at Epic Games, which involves a reduction of 16 per cent of its workforce, along with the decision to divest Bandcamp and SuperAwesome. Steve Allison, the Epic Games store's Vice President and General Manager, stated that the sale to Songtradr is expected to simplify the process for independent artists to connect with creators and developers seeking music licensing opportunities. This strategic move will also allow Epic Games to sharpen its focus on its core endeavours, including developing the metaverse, gaming, and essential software tools.
Earlier this year, various teams within Bandcamp, including editorial, design, support, and engineering staff, came together to form a union called Bandcamp United.
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