Another Acquisition
One more acquisition happened in our game industry, but this is not a game studio. Fortnite creator Epic Games acquired Bandcamp, an independent online music store. Bandcamp is an internet music company founded in 2008 by Oddpost co-founder Ethan Diamond and programmers Shawn Grunberger. Bootcamp is an online record store and music community where passionate fans discover, connect with, and directly support the artists they love.
Bandcamp co-founder Ethan Diamond said that "Bandcamp will keep operating as a standalone marketplace and music community, and you’ll still have the same control over how you offer your music, Bandcamp Fridays will continue as planned, and the Daily will keep highlighting the diverse, amazing music on the site."
Epic Games Vice President Steve Allison also said that "Bandcamp has built an incredible community and business where up and coming artists can succeed thanks to the direct support of their fans, with one of the best revenue models and terms in music. This aligns closely with Epic's approach to supporting creators across all media and enabling them to connect directly with their fans.”
"Bandcamp’s mission is to help spread the healing power of music by building a community where artists thrive through the direct support of their fans,” said Bandcamp CEO Ethan Diamond. “In Epic, we’ve found a partner who believes as deeply as we do that the future of music, and art itself, depends on the creation of equitable and inclusive communities like the one our fans and artists have helped to build."
Bandcamp is a notable marketplace because, unlike competitors like Spotify, the profit margin is in the artist’s favor; a musician keeps “an average of 82% of every sale. Epic Games has dipped heavily into the music scene in recent years, hosting virtual concerts in Fortnite – starring the likes of Ariana Grande and Travis Scott. Also, a Statement from the developer shared that “Bandcamp will play an important role in Epic’s vision to build out a creator marketplace ecosystem for content, technology, games, art, music and more.”