Both companies took to their Twitter pages to announce the news and got lots of mixed reactions.
The partnership will see Bandcamp operate as a standalone marketplace and music community whilst using Epic’s resources for international expansion and possibly new features.
Bandcamp’s CEO Ethan Diamond wrote in a blog post ‘we share a vision of building the most open artist-friendly ecosystem in the world, and together we’ll be able to create even more opportunities for artists to be compensated fairly for their work.’
Epic’s acquisition of Bandcamp is however strange in the sense that both companies operate in different domains. But Epic has been keen on acquiring companies in recent years and they have been able to do that all thanks to Fortnite’s popularity.
Bandcamp will continue to operate Bandcamp Fridays – the monthly event has been a popular feature that helps struggling musicians make ends meet amid touring shutdowns.
Ethan also went on to add, ‘since our founding in 2008, we have been motivated by the pursuit of their mission which is to help spread the healing power of music by building a community where artists thrive via direct support from their fans. That simple idea has gotten us far as we have payments, artists and labels closing in on $1 billion.’
Epic’s VP, Steve Allison, in a separate post, excitedly said ‘Bandcamp has built an incredible community and business where emerging artists can succeed thanks to the direct support of their fans, which is also one of the best revenue models and terms in music’