In a surprising turn of events, Epic Games has decided to part ways with Bandcamp, a mere 18 months after acquiring the platform. The mystery surrounding the sale lies in the undisclosed sum at which Bandcamp changed hands. The new custodian of this beloved music haven is none other than Songtradr, a music marketing company with grand plans. According to Songtradr’s blog post on the acquisition, they intend to “maintain Bandcamp as a vibrant marketplace and music community with a staunch commitment to putting artists first when it comes to revenue sharing.”
Songtradr, often touted as a music licensing and marketplace guru, views this acquisition as a golden opportunity for Bandcamp artists. It’s not just about the change in ownership; it’s about securing those coveted licensing deals. Epic Games isn’t left out of the equation either, as they plan to maintain their collaboration with Bandcamp on projects like Fortnite Radio. However, when questioned about potential changes to artist revenue shares, user experience, or the fate of Bandcamp Daily in the wake of this acquisition, Songtradr remained tight-lipped. Epic Games wasn’t much more forthcoming, directing inquiries to their public announcement.
The bombshell news of Bandcamp’s sale coincided with another startling revelation – Epic Games is shedding 16 percent of its workforce. Alongside the farewell to Bandcamp, Epic Games is also parting ways with SuperAwesome. Steve Allison, the Vice President and General Manager of the Epic Games store, shed some light on this strategy. He believes that Songtradr’s stewardship will “facilitate independent artists in connecting with creators and developers seeking to license their music,” all while allowing Epic to concentrate on its core metaverse, games, and tool development endeavors.
In a twist earlier this year, various members of Bandcamp’s staff, including those from editorial, design, support, and engineering, came together to form a union. It’s a curious development in light of these recent events, and we’ve reached out to Bandcamp United for their perspective on this sale.
So, what does this unexpected acquisition by Songtradr mean for the legions of music fans and the artists who have found a home on Bandcamp? Let’s dive in and explore the implications of this seismic shift in the music industry landscape.
Frequently Asked Questions (FAQs) about Epic Games Bandcamp sale
What prompted Epic Games to sell Bandcamp?
Epic Games decided to sell Bandcamp as part of a strategic shift, coinciding with staff cuts. They aim to refocus on their core metaverse, games, and tools efforts, making this divestment a part of their restructuring plan.
Who is the new owner of Bandcamp?
Bandcamp’s new owner is Songtradr, a music marketing company. They have plans to maintain Bandcamp as a vibrant marketplace and music community, emphasizing an artist-first approach to revenue sharing.
What changes can be expected on Bandcamp following this acquisition?
The details of potential changes remain undisclosed. Songtradr declined to comment on whether there would be alterations to artist revenue shares, user experience, or the fate of Bandcamp Daily. Epic Games also refrained from providing specific details and directed inquiries to their public announcement.
How will this acquisition affect Bandcamp’s collaboration with Epic Games?
Epic Games intends to continue collaborating with Bandcamp, particularly on projects like Fortnite Radio. This suggests that the partnership between these two entities will persist despite the change in ownership.
How does this sale impact independent artists on Bandcamp?
According to Steve Allison of Epic Games, the sale to Songtradr is seen as a way to make it easier for independent artists to connect with creators and developers seeking to license their music. This could potentially open up new opportunities for artists in the Bandcamp community.
What’s the significance of the simultaneous staff unionization at Bandcamp?
Earlier this year, members of Bandcamp’s staff, including those from editorial, design, support, and engineering, formed a union. The implications of this move in light of the sale to Songtradr and Epic Games’ restructuring remain to be explored. We’ve reached out to Bandcamp United for their insights on this matter.