Bandcamp has been acquired by Epic Games, the software developer behind popular video games like Fortnite, Unreal, and Gears of War.
Ethan Diamond, Bandcamp’s CEO and co-founder, announced the news in a note posted to Bandcamp’s blog. He assured that “Bandcamp will keep operating as a standalone marketplace and music community,” with Diamond remaining aboard in the chief role. “The products and services you depend on aren’t going anywhere,” Diamond promised, and that includes the popular campaign Bandcamp Fridays, which sees the platform waive its cut of sales to put more money in artists’ hands. (In 2020, Bandcamp Fridays raised $40 millions for musicians.)
“However, behind the scenes we’re working with Epic to expand internationally and push development forward across Bandcamp, from basics like our album pages, mobile apps, merch tools, payment system, and search and discovery features, to newer initiatives like our vinyl pressing and live streaming services,” Diamond explained.
Bandcamp initially launched in 2008, but steadily gained in popularity as artists griped about the lackluster royalties earned on streaming platforms such as Spotify and Apple Music. As Diamond notes, artists net an average of 82% of every sale on Bandcamp, and to the date the platform has sold nearly $1 billion worth of music and music-related products.
You can read Diamond’s full note on Epic’s acquisition of Bandcamp below.
— bandcamp (@Bandcamp) March 2, 2022