Bandcamp acquired by Epic Games
Epic Games, the video game developer and publisher behind Fortnite, Gears of War, and other titles, has acquired Bandcamp. A letter from Bandcamp co-founder and CEO Ethan Diamond reads:
I’m excited to announce that Bandcamp is joining Epic Games, who you may know as the makers of Fortnite and Unreal Engine, and champions for a fair and open Internet.
Bandcamp will keep operating as a standalone marketplace and music community, and I will continue to lead our team. 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.
Since our founding in 2008, we’ve been motivated by the pursuit of our mission, which is to help spread the healing power of music by building a community where artists thrive through the direct support of their fans. That simple idea has worked well, with payments to artists and labels closing in on $1 billion USD. And while over the years we’ve heard from other companies who wanted us to join them, we’ve always felt that doing so would only be exciting if they strongly believed in our mission, were aligned with our values, and not only wanted to see Bandcamp continue, but also wanted to provide the resources to bring a lot more benefit to the artists, labels, and fans who use the site. Epic ticks all those boxes. We share a vision of building the most open, artist-friendly ecosystem in the world, and together we’ll be able to create even more opportunities for artists to be compensated fairly for their work.
Whether you joined Bandcamp recently or have been with us since the beginning 14 years ago, thank you for being a part of this incredible community, and we look forward to serving you for many years to come!
"Bandcamp’s mission is to help spread the healing power of music by building a community where artists thrive through the direct support of their fans,” Diamond said in a statement. “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. We’re excited to work alongside the Epic team to accelerate the realization of our mission and pursue our shared goal of empowering more creators in a fair and open way."
Steve Allison, Vice President and General Manager, Store at Epic Games, said, "We couldn’t be more excited to welcome the Bandcamp team to 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."
Also among Epic's recent acquisitions are Harmonix, a music game developer whose games include Rock Band 4.
UPDATE: Bandcamp Daily Editorial Director J. Edward Keyes also released a statement after news of the acquisition broke, writing, "Hi everyone. I just want to reassure you: Bandcamp Daily is not going anywhere. Bandcamp Daily's editorial staff isn't going anywhere. Bandcamp Daily's writing staff isn't going anywhere. We're going to keep doing what we do, and we're looking forward to doing it."