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Bandcamp said it will continue to provide its normal products and services, while it works ‘behind the scenes’ with Epic Games to develop new features.
Fortnite maker Epic Games has acquired online music store Bandcamp, with plans to expand the store internationally and add new features. Financial details of the deal have not been disclosed.
Founded in 2008, Bandcamp markets itself as a platform where fans can directly support their favourite musicians. According to the company, an average of 82pc of the money goes to the artist or their label when a purchase is made on its site.
Bandcamp CEO Ethan Diamond said that artists and labels have earned nearly $1bn from its platform. He added that this deal will “push development forward” across the site, as it works “behind the scenes” on new initiatives such as vinyl pressing and live streaming offers.
“In Epic, we’ve found a partner who believes as deeply as we do that the future of music, and art itself, depends on the creation of equitable and inclusive communities like the one our fans and artists have helped to build,” Diamond said.
“We’re excited to work alongside the Epic team to accelerate the realisation of our mission and pursue our shared goal of empowering more creators in a fair and open way.”
Diamond said Bandcamp will continue to offer its usual products and services. This includes Daily, its online guide on artists and labels on the music store, and Bandcamp Fridays, where the company waives its revenue share on the first Friday of the month so more can go to the artists.
Bandcamp launched this initiative in March 2020 to support musicians who were affected by the Covid-19 pandemic.
Epic Games said the partnership will help the company make a “creator marketplace ecosystem” in areas such as content, technology, games, art and music.
Epic Games vice-president Steve Allison said: “Bandcamp has built an incredible community and business where up-and-coming artists can succeed thanks to the direct support of their fans, with one of the best revenue models and terms in music. This aligns closely with Epic’s approach to supporting creators across all media and enabling them to connect directly with their fans.”
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