Video game developer epic games bought band camp, an online music store and community whose goal is to support independent musicians and connect them with fans who directly support their work. Epic Games is best known for Fortnite and Unreal Engine. While details of the deal were not disclosed, Epic Games said the two companies share a mission to create artist-friendly platforms that allow creators to keep most of the revenue generated from their work. . They also believe in a fair and open Internet for all.
Epic Games said Bandcamp will play a key role in helping the company develop its vision of a “marketplace ecosystem for content, technology, games, art, music and more.” Bandcamp will maintain its independence as a standalone marketplace and music community. It will continue to be led by Bandcamp co-founder and CEO Ethan Diamond, and Bandcamp’s products and services will continue to be available.
“Bandcamp’s mission is to help spread the healing power of music by creating a community where artists thrive through the direct support of their fans,” Diamond said in a statement. Announcement of March 2, 2022.
“In Epic, we have found a partner who believes as deeply as we do that the future of music, and of art itself, depends on creating fair and inclusive communities like the one our fans and artists have contributed. to build. We are excited to work alongside the Epic team to accelerate the realization of our mission and further our shared goal of empowering more creators in a fair and open way,” added Diamond.
Steve Allison, vice president and general manager of the Epic Games store, also commented on the acquisition.
“We couldn’t be more thrilled to welcome the Bandcamp team to Epic Games,” says Allison. “Bandcamp has built an incredible community and business where up-and-coming artists can succeed through 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 support creators across all media and allow them to connect directly with their fans.
Based in Oakland, California, Bandcamp was founded in 2008 to create a community of independent musicians and fans. To date, Bandcamp has paid artists and labels nearly $1 billion. Bandcamp said its model is an artist-driven model, and Bandcamp’s music artists make an average of 82% of each sale, which puts musicians and labels in control of their music.
Bandcamp is transparent about its arrangement with artists, testifies Bandcamp’s Fair Music Policy published on their website. The company said it has been profitable since 2012. It makes 15% of its revenue from digital sales and 10% from physical goods. They pass on payment processing fees, but typically 80% to 85% goes directly to the artists, and they make daily payments.
“Since we only make money when artists make significantly more money, our interests stay aligned with those of the community we serve. It’s a simple approach, and we’re happy to say it works. good,” Bandcamp says on its website.
Diamond said much of their operations will remain the same. For example, they will continue Bandcamp Fridays and Daily will further showcase the wide range of diverse music available on the site. What will be new is that the deal with Epic Games will allow them to expand internationally, add features like mobile apps and merch tools, and support some of their new initiatives including vinyl pressing and live streaming.
“…while over the years we’ve heard from other companies who wanted us to join them, we always thought it 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 much more benefit to the artists, labels and fans who use the site. Epic ticks all of these boxes. We share the vision of building the ecosystem the open and welcoming place for artists in the world, and together we will be able to create even more opportunities for artists to be fairly compensated for their work,” diamond said.
It’s an exciting time to be an independent artist and creator with so many platforms to choose from, each platform offering a unique set of features, benefits and payment plans. The partnership between Epic Games and Bandcamp seems like a natural fit that not only aligns the companies’ values, but also their vision for the future. It sounds like a winning combination with unlimited potential that will benefit businesses, creators, and the music lovers who support them.