Wednesday, May 22, 2024
HomeBusinessSongtradr acquires Bandcamp, separating from Epic Games of Fortnite fame.

Songtradr acquires Bandcamp, separating from Epic Games of Fortnite fame.

Los Angeles-based music licensing company, Songtradr, has announced its acquisition of Bandcamp from Epic Games. Bandcamp, an online music store and direct-to-fan platform, currently serves over 5 million artists and labels. Songtradr intends to maintain Bandcamp as a marketplace and music community, ensuring an “artist-first revenue share.” This acquisition will allow Bandcamp to thrive under a music-focused company, while also enabling Songtradr to expand its capabilities in supporting the artist community. Additionally, Epic Games and Bandcamp are exploring collaboration opportunities to build an inventory of music for Epic’s ecosystem.

The CEO of Songtradr, Paul Wiltshire, expressed that the acquisition will aid in the growth of the company’s suite of services for artists, as Songtradr is dedicated to supporting artistry and creativity. Steve Allison, Vice President and General Manager, Store at Epic Games, emphasized the alignment of Songtradr, Epic, and Bandcamp in ensuring fair compensation for artists. The acquisition coincides with Epic Games’ announcement of layoffs and the divestiture of Bandcamp as the company aims to stabilize its finances. Despite the layoffs, Epic Games remains confident in its future prospects and its ongoing efforts within the gaming industry.

In conclusion, the acquisition of Bandcamp by Songtradr signifies the continuation of a thriving marketplace and music community for artists and labels. With over 5 million users, Bandcamp’s acquisition by Songtradr ensures an “artist-first revenue share” and promises to expand the company’s capabilities in supporting artists. Additionally, potential collaborations between Bandcamp, Epic Games, and Songtradr will allow for the licensing and integration of artists’ music in various media formats. Despite the divestiture of Bandcamp and layoffs at Epic Games, both companies maintain a positive outlook for their futures, with Epic Games focusing on its core gaming efforts and Songtradr looking to further enhance its suite of services for artists.

Source link



Please enter your comment!
Please enter your name here

Most Popular

Recent Comments