Los Angeles-based B2B music licensing company Songtradr has announced its acquisition of Bandcamp from Epic Games. Songtradr plans to continue operating Bandcamp as a marketplace and music community with an “artist-first revenue share” approach. Bandcamp, which is currently used by over 5 million artists and labels, will benefit from the acquisition by expanding its capabilities and support for the artist community. Additionally, Songtradr will offer Bandcamp artists the opportunity to license their music for various media uses, providing them with increased control over their music rights and earning potential.
Epic Games, the maker of popular video game Fortnite, acquired Bandcamp a year and a half ago. The company is now divesting Bandcamp to focus on its core metaverse, games, and tools efforts. Epic Games will continue to collaborate with Bandcamp on projects like Fortnite Radio and is also exploring ways to partner with Songtradr to build a music inventory. The acquisition of Bandcamp by Songtradr aligns with both companies’ shared values of ensuring fair compensation for artists.
The CEO of Songtradr, Paul Wiltshire, expressed his excitement about the acquisition and stated that it will help Songtradr expand its services for artists. Steve Allison, Vice President and General Manager at Epic Games, emphasized the importance of the acquisition in making it easier for independent artists to connect with creators and developers for music licensing. This news follows Epic Games’ announcement of laying off 16% of its global workforce while divesting Bandcamp, a move made to stabilize the company’s finances. Despite the layoffs, Epic Games remains optimistic about its prospects for the future, with a focus on maintaining development, core businesses, and its ambition to become a leading metaverse company.