Epic Games acquires Bandcamp
Music company, Bandcamp has announced its acquisition by Epic Games. The CEO and co-founder of Bandcamp, Ethan Diamond, spoke about the partnership in a blogpost and ensured that the music marketplace will remain independent and he will carry on in his leadership role.
Bandcamp differentiates itself from other music services such as Spotify as artists tend to keep approximately 82% of their song revenue. Moreover, artists will continue to maintain control over their music delivery on the platform. The acquisition by Epic Games will enable Bandcamp to enter new markets across the globe and propel the development of its services such as live streaming, merchandise, applications, payment systems and search functions.
Ethan also argues that Epic Games’ value system and goals are in tandem with Bandcamp’s. The music company will continue to strive towards its mission in cultivating a community where creators can prosper via their respective fanbases. Furthermore, the CEO purports that the company received offers from other organisations, but ultimately chose Epic Games because it adhered to this mission and provided assets to Bandcamp’s community and creators through the support of its resources.
Ethan expressed his hope for the partnership between Epic Games and Bandcamp by saying, ‘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.’