Video game developer Epic Games, creator of hits like Fortnite and Unreal Engine, has announced the acquisition of Bandcamp, an online music store and community where fans can discover, connect and directly support the independent musicians they love.
“Fair and open platforms are key to the future of the creator economy” reads an official note from Epic Games. “Epic and Bandcamp share a mission to build the most artist-friendly platform that allows creators to keep the majority of their hard-earned cash. Bandcamp will play an important role in Epic’s vision of building a creator market ecosystem for content, technology. , games, art, music and more “.
“I am thrilled to announce that Bandcamp will join Epic Games” said Ethan Diamond, CEO and co-founder of Bandcamp. “Bandcamp’s mission is to help spread the healing power of music by building a community where artists thrive with direct support from their fans. At Epic, we have found a partner who believes as deeply as we do in the future of music, and of ‘art itself, depends on creating fair and inclusive communities like the one our fans and artists have helped build. We are thrilled to work alongside the Epic team to accelerate the fulfillment of our mission and pursue our shared goal of empowering more creators in a fair and open way “.
“We couldn’t be more excited to welcome the Bandcamp team to Epic Games”, said Steve Allison, Vice President and General Manager, Epic Games Store. “Bandcamp has built an incredible community and business where emerging artists can succeed thanks to the direct support of their fans, with one of the best in income and terms in music. This aligns closely with Epic’s approach to support creators across all media and allow them to connect directly with their fans. “
Under the agreement between the parties, Bandcamp will continue to operate as a standalone marketplace and music community and Diamond will continue to lead the team. Bandcamp’s products and services will continue to be available to users. Furthermore, the revenue model for artists – where artists get an average of 82% of each sale – will remain the same. Epic will help Bandcamp expand internationally and advance the development of the services it offers.
“We will continue to build Bandcamp around our revenue model for artists” Diamond said, “Bandcamp Fridays will continue as planned and The Daily will continue to highlight the diverse and amazing music on the site. However, behind the scenes we are working with Epic to expand internationally and carry on development at Bandcamp, from the basics like the pages. of our albums, mobile apps, merchandising tools, payment system and search and discovery capabilities, to more recent initiatives such as our vinyl printing and live streaming services. “
Diamond said that Bandcamp has already received acquisition proposals in the past but they were always not accepted because they did not believe in their values, while Epic Games did: “Since our founding in 2008, we have been motivated to pursue our mission, which is to help spread the healing power of music by building a community where artists thrive on direct support from their fans. That simple idea worked well. , with payments to artists and labels approaching $ 1 billion ” Diamond said. “And while we’ve heard from other companies over the years wanting us to join them, we’ve always felt that doing so would only be exciting if they firmly believed in our mission, were aligned with our values, and not just wanted to see Bandcamp. continue, but I also wanted to provide the resources to bring far more benefits to the artists, labels and fans who use the site. Epic ticks all those boxes. We share the vision of building the most open and artist-friendly ecosystem and together we will be able to create even more opportunities for artists to be fairly compensated for their work. “