According to a memo from Epic Games CEO Tim Sweeney, posted earlier today, significant changes have occurred within the company, including a 16% reduction in the workforce due to overspending while investing in the next generation, such as “expanding Fortnite into a metaverse-inspired ecosystem.” But what about Bandcamp, the respected online music store and community Epic Games acquired in March 2022? After a year and a half under new ownership, Epic Games is now exploring a partnership with Songtradr to create a vast music inventory. Songtradr, a music licensing platform, has acquired Bandcamp, which holds over five million artists and labels – aiming to foster Bandcamp’s growth within a music-focused company while enhancing Songtradr’s artist support capabilities.
Artists on Bandcamp can license their music across various media platforms, granting them control over their music rights and increasing their earnings through Songtradr’s global licensing network. Additionally, Epic Games is considering collaborating with Songtradr to allow artists to decide whether to license their music for use within Epic’s ecosystem, including projects like Fortnite Radio. Epic Games plans to invest in Songtradr to support Bandcamp’s integration. This strategic move hopes to empower artists by simplifying the process for independent creators to connect with fellow artists and developers seeking music licenses.
Soundtradr CEO Paul Wiltshire commented:
“The acquisition of Bandcamp will help Songtradr continue to grow its suite of services for artists. I’m a passionate musician myself, and artistry and creativity have always been at the heart of Songtradr. Bandcamp will join a team of music industry veterans and artists who have deep expertise in music licensing, composition, rights management, and distribution”
Steve Allison, Vice President and General Manager, Store at Epic Games, added:
“Songtradr shares Epic and Bandcamp’s values around ensuring artists are fairly compensated for their work. Bringing Bandcamp to Songtradr will make it easier for independent artists to connect with creators and developers looking to license their music and enable Epic to focus on its core metaverse, games, and tools efforts.”
