Two of the biggest names in entertainment, Bandcamp and Epic Games, are joining forces to create more opportunities for creators everywhere.
The biggest acquisition of the week has everything to do with artists’ catalogs, but not in the way you might think. Epic Games has acquired Bandcamp, as in bandcamp.com, for an undisclosed sum. The digital music retail site and media platform announced the news today (March 2) in a statement on its website. “Bandcamp will keep operating as a standalone marketplace and music community, and I will continue to lead our team,” Bandcamp co-founder and CEO Ethan Diamond wrote in the announcement. Diamond continued:
The products and services you depend on aren’t going anywhere, we’ll continue to build Bandcamp around our artists-first revenue model (where artists net an average of 82% of every sale), you’ll still have the same control over how you offer your music, Bandcamp Fridays will continue as planned, and the Daily will keep highlighting the diverse, amazing music on the site. However, behind the scenes we’re working with Epic to expand internationally and push development forward across Bandcamp, from basics like our album pages, mobile apps, merch tools, payment system, and search and discovery features, to newer initiatives like our vinyl pressing and live streaming services.
Epic Games released a similar statement on its official website.
“We couldn’t be more excited to welcome the Bandcamp team to Epic Games,” said Steve Allison, Vice President and General Manager, Store at Epic Games. “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.”
Anytime an outside corporation purchases a music entity, people get nervous. The goal of the statements above is to ease any worries, and so far, we have no reason to assume otherwise.
While details of the acquisition and the immediate future for both companies remain to be seen, it’s clear that this story will be making headlines for the foreseeable future. Follow Haulix on Facebook and Twitter for updates.
