Internet music company and online record store Bandcamp is set to join Epic Games, the creator of Fortnite and the Unreal Engine. However, co-founder and CEO Ethan Diamond states that Bandcamp will continue to operate as a standalone marketplace and music community.
According to the blog post, Bandcamp will still build its platform around its "artists-first revenue model," while products and services already in place will remain. The company will be working with Epic Games to "expand internationally and push development forward across Bandcamp," including everything from its mobile apps and payment system to new features such as vinyl pressing and live streaming services.
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Bandcamp aims to build the most open, artist-friendly ecosystem, allowing artists to artists net an average of 82% of every sale on its platform. Now, with Epic Games, the company wants to expand its vision.
"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," Diamond states. "That simple idea has worked well, with payments to artists and labels closing in on $1 billion USD."
The alternative music platform has accumulated a large fanbase over the past 14 years, so fans will be happy to know certain features such as Bandcamp Fridays and the "Daily" will continue after joining Epic Games.
This isn't the first time Epic Games has acquired companies that aren't exclusively related to gaming, as it brought in social networking service and group video platform Houseparty in 2019. However, Epic shut down Houseparty in 2021 (via The Verge), with the team continuing to work on social services for Epic Games. According to the post, Bandcamp aims to keep more independence.
The Epic Games acquisition is one of many major deals announced over the past few months, including Destiny and Halo creator Bungie being acquired by Sony for $3.6 billion and Xbox acquiring Activision Blizzard for $68.7 billion.