Announcing the acquisition of Bandcamp, the online music store and community aimed toward independent musicians, video-game maker Epic Games revealed that it has acquired the company.
The financial terms of the transaction were not disclosed. According to Epic Games, which is best known for developing the battle-royale game “Fortnite,” “fair and open platforms are vital to the development of the creative economy,” the business said when the agreement was announced. “Epic and Bandcamp are both on a quest to establish the most artist-friendly platform possible, allowing creators to keep the vast majority of the money they have worked so hard to earn.”
Bandcamp will play a “essential role in Epic’s goal to build out a creator marketplace ecosystem for content, technology, games, art, music, and more,” according to the video game firm. Epic is developing a “creator marketplace ecosystem for content, technology, games, art, music, and more.” According to Bandcamp’s business model, musicians receive a net average of 82 percent of every sale made through their platform.
Bandcamp will continue to function as a stand-alone marketplace and music community under the ownership of Epic Games, with its CEO and co-founder Ethan Diamond continuing to serve as its leader.