Bandcamp acquired by Epic Games, maker of Fortnite and Unreal Engine
With the backing of Epic Games, Bandcamp is hoping to expand internationally.
Image: Guillaume Payen/SOPA Images/LightRocket via Getty Images
Bandcamp has been acquired by Epic Games, the game developer that owns Fortnite and Unreal Engine, for an undisclosed sum.
In a statement, Bandcamp said it will continue to keep operating as a standalone marketplace, with many of the trademark features remaining in place, such as the artist-first revenue model (where artists net an average of 82 per cent of every sale), and Bandcamp Fridays.
The move will see Bandcamp expand internationally and push development forward across the site, from album pages, mobile apps, merchandising tools, to newer initiatives such as vinyl pressing and live streaming services.
Despite many offers over the years, Bandcamp co-founder and CEO Ethan Diamond believed that selling “would only be exciting if [the buyer] 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.”
Diamond noted that this move was due to both companies’ shared vision of “building the most open, artist-friendly ecosystem in the world”, with the hopes to create even more opportunities for artists to be compensated fairly for their work.
This move comes after Bandcamp has earned just under $1 billion for artists and labels.
Steve Allison, Vice President and General Manager at Epic Games, said: “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.”