Epic Games has acquired music marketplace platform Bandcamp, the companies announced Wednesday.
Bandcamp will continue to operate as a standalone marketplace, led by co-founder and CEO Ethan Diamond, but the platform will use Epic Game’s resources to expand internationally and enhance its live, mobile, research and payment.
The music market will continue to use its “artist first” revenue model, which gives Bandcamp a 10-15% discount on every sale. This model, according to Diamond, gives artists an average of 82% net revenue per sale. Bandcamp Fridays, a monthly event where Bandcamp waives its standard revenue cut to support artists, will also continue after the Epic Games acquisition.
“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 believed strongly in our mission, were aligned with our values and only wanted not only to see Bandcamp continue, but also wanted to provide the resources necessary to bring much more benefit to the artists, labels and fans who use the site. Epic ticks all of these boxes,” Diamond said in a blog post announcing the acquisition. “We share a vision to build the most open and user-friendly ecosystem in the world, and together we will be able to create even more opportunities for artists to be fairly compensated for their work.”
The acquisition of Bandcamp is one of Epic’s first major purchases outside of the games and tech space. The deal signals Epic’s goal of building its own creator marketplace across technology, games, art and music.
“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,” Steve Allison, vice president and general manager of ‘Epic Games Store, mentioned. “It aligns closely with Epic’s approach of supporting creators across all media and enabling them to connect directly with their fans.”