Epic Games Acquires Music Store Bandcamp As Part Of “Creator Marketplace Ecosystem” Vision
Epic has acquired online indie music marketplace Bandcamp for an undisclosed amount.
It’s the second acquisition in the past year that takes the Fortnite company beyond its traditional areas of tech and video games, following last year’s purchase of artist platform ArtStation.
The acquisition was announced on the websites of both epic games and band campthe latter emphasizing that it will continue to function as a self-contained marketplace and community for independent musical artists and their fans.
“The products and services you depend on are going nowhere,” wrote co-founder and CEO Ethan Diamond, who also stressed that he would continue to lead the company.
“We will continue to build Bandcamp around our artist-driven revenue model, you will still have the same control over how you offer your music, Bandcamp Fridays will continue as planned and the Daily will continue to highlight diverse music and amazing on the site.
“However, behind the scenes, we’re working with Epic to expand internationally and push development forward on Bandcamp, basics like our album pages, mobile apps, merchandising tools, payment system, and search and discovery features, to new initiatives like our vinyl pressing and live streaming services.”
Bandcamp was founded in 2008 and enables independent musicians to promote and sell their work. According to Diamond, the average artist receives 82% of the revenue from each sale, with Bandcamp paying nearly $1 billion to artists and labels to date.
Diamond hinted that other companies had already attempted to acquire Bandcamp, but the company waited for a buyer who would allow it to continue as well as “provide the resources to bring much greater benefit to artists, labels and fans.” who use the site.
Both companies have stressed the importance of creating fair and open markets, with Epic’s statement suggesting the company is working on something that brings its acquisitions together.
“Bandcamp will play an important role in Epic’s vision to create a creator marketplace ecosystem for content, technology, games, art, music and more,” the company wrote.
Epic has also been actively acquiring more game studios, having bought Fall Guys parent Tonic Games Group and Rock Band creator Harmonix over the past year.