On March 2nd, Epic Games announced it had acquired the independent music storefront Bandcamp. As a result of this deal, Bandcamp will continue operating as a standalone music community and marketplace while being given access to Epic’s pool of resources in order to expand internationally and add new features to its offering.
In a blog post, Epic Games explained that Bandcamp would play an important role in Epic’s effort to build “a creator marketplace ecosystem for content, technology, games, art, music, and more.” Additionally, the two parties will work together on behind-the-scenes projects that aim to develop merchandise, payment options, mobile applications, and live streaming capabilities.
“We couldn’t be more excited to welcome the Bandcamp team to Epic Games,” said Steve Allison, the Vice President and General Manager of Stores at Epic Games. “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 is an internet music company that was founded in September of 2008 by Ethan Diamond, Shawn Grunberger, Joe Holt, and Neal Tucker. The organization is headquartered in Oakland, California.
The Profit‘s Take:
Epic’s strategy continues to feel confused. I didn’t even realize people still used online music stores in a world with Apple Music and Spotify. This is crazy to me and a total waste of time. Epic seems totally distracted.