Epic Video games, the software program developer of Fortnite, Unreal Engine, Gears of Battle and Rocket League, has acquired web music firm Bandcamp.
Bandcamp launched in 2008 and served as one of many first methods for musicians to earn cash by promoting their music on to followers on-line. As streaming companies like Spotify and Apple Music have restricted royalties of $0.003 and $0.005 and $0.01 per stream, respectively, Bandcamp artists web a median of 82% of each sale.
Bandcamp’s CEO and co-founder, Ethan Diamond, wrote a be aware on Bandcamp’s weblog explaining the deal in larger element. He wrote, “Bandcamp will preserve working as a standalone market and music neighborhood, and I’ll proceed to guide our staff. The services and products you rely on aren’t going wherever, we’ll proceed to construct Bandcamp round our artists-first income mannequin (the place artists web a median of 82% of each sale), you’ll nonetheless have the identical management over the way you supply your music, Bandcamp Fridays will proceed as deliberate, and the Every day will preserve highlighting the varied, superb music on the positioning.”
Dimond continued to speak about Epic Video games’ upcoming function; he wrote, “…behind the scenes we’re working with Epic to increase internationally and push growth ahead throughout Bandcamp, from fundamentals like our album pages, cellular apps, merch instruments, cost system, and search and discovery options, to newer initiatives like our vinyl urgent and dwell streaming companies.”
Since its inception, Bandcamp has offered practically $1 billion price of music and artwork, and in 2020 the web site raised $40 million of musicians.
To shut out his message Dimond thanked the positioning’s neighborhood of customers for coming collectively for over 14 years and expressed pleasure to serve them within the years to return.
Learn Diamond’s full be aware on Epic’s acquisition of Bandcamp right here.
Bandcamp is becoming a member of Epic Video games! Learn extra right here: https://t.co/dvLEhURZYG pic.twitter.com/4t1MRvugmG
— bandcamp (@Bandcamp) March 2, 2022