The video game company Epic Games has bought the music platform Bandcamp, which has promised to keep its identity, the two parties announced on Wednesday, without disclosing the amounts involved.
In a message published on the platform’s blog, diffusionKnown for offering musicians a much higher revenue opportunity than other platforms in the industry, co-founder and CEO Ethan Diamond said Bandcamp “will continue to operate as a self-contained marketplace and music community” which since its foundation 14 years ago, funneled nearly $1 billion to artists.
“We will continue to build Bandcamp around our ‘artists first’ model, in which artists receive approximately 82% of every sale,” he wrote Diamond, who assured that he would continue to lead the team.
However, “behind the scenes” they will be working with Epic Games to “expand internationally and drive the development of the platform, from album pages, to apps mobile phones and new payment systems.
On the Epic side, the company emphasized that it shares with Bandcamp “a mission to build a more artist-friendly platform that allows creators to keep most of their hard-earned money.”
Epic Games is the company responsible for titles like fortnite and, according to information made public as part of a case against Apple in 2021, it employs more than three thousand people and generated more than five billion dollars in revenue in 2020.