Epic Games Acquires Bandcamp

[caught gesture]

Epic Games Acquires Bandcamp as ‘Fortnite’ Maker Expands Into Music

Epic Games announced that it has bought Bandcamp, the online music store and community geared around independent musicians.

variety.com

I really hope that this is not the end of bandcamp as I know it. The company pays almost 90% of music revenues to artists. That’s a sharp contrast with streaming platforms, such as Spotify, where artists receive a fraction of a penny per stream.

 

[Tks]

The heck??

 

[mhardy6647]

not likely to be good for anybody...

 

[Chrispy]

Not a good sign altho I think my neighbor's son works for Epic....see what I can find out

 

[Dro]

The company pays almost 90% of music revenues to artists.

Epic only takes a 12% cut in their game store, so I don't expect Bandcamp to become less friendly towards artists.

 

[mugbot]

Interesting, hoping this doesn't lead to major changes.
My main objection with their games store has been exclusives, but I don't think I'd mind so much with Bandcamp provided you can still get the music DRM free and in high quality/lossless. I've picked up quite a bit from Bandcamp over time.

 

[Zensō]

I have to wonder if this has anything to do with the Tidal buyout and rumors that they’re developing a platform to enable direct artist uploads and micro-payments, which sounds like a direct competitor to BandCamp.

Whatever the reason, this doesn’t seem to bode well for the future of BandCamp.

 

[caught gesture]

Epic Is Losing An Astonishing Amount Of Money Securing Games For EGS

Epic knew they’d be going through the X-ray machine for its case against Apple, and now some new, rather eye-popping figures have been released showing just how much Epic is losing in order to build up a game base for the Epic G...

www.forbes.com

I bit of further digging and it starts to look bleaker for the musicians and their revenue stream.

 

[kchap]

I have to wonder if this has anything to do with the Tidal buyout and rumors that they’re developing a platform to enable direct artist uploads and micro-payments, which sounds like a direct competitor to BandCamp.

Whatever the reason, this doesn’t seem to bode well for the future of BandCamp.

I agree with your analysis but cannot bring myself to Click Like.

 

[Frgirard]

Wait and see

Bandcamp is Joining Epic Games

I’m excited to announce that Bandcamp is joining Epic Games, who you may know as the makers of Fortnite and Unreal Engine, and champions for a fair and open Internet. Bandcamp will keep operating a…

blog.bandcamp.com

 

[Katji]

I was so shocked when I saw it in RSS feed now, I started a post here for it, went back to get the link, and saw that it was here.



It's like the last 2 years has been just more and more bad news.

Yeh, this corporate level, groups, can only mess up Bandcamp.

 

[caught gesture]

epic games is 40% owned by tencent, the chinese conglomerate that controls a huge part of media and communications in china, and which has been notably involved in alleged censorship and surveillance both inside and outside the country. you can choose to trust bandcamp's declaration that the partially chinese-owned american corporation are, and will remain, "champions for a fair and open Internet," or you cannot. as for us, we will reserve judgment for the time being.

bandcamp has already been banned in china last year, in a development which directly resulted in the censorship and marginalization of many independent artists from the nation, which is already subject to alleged heavy cultural and informational control by the state, and by big chinese media companies with alleged financial ties with the chinese government, such as tencent. in other words, today bandcamp is indirectly tied to a company from a country in which bandcamp itself can't be accessed, a company which itself controls a huge part of chinese media.

Copied from https://trouserpress.com/forum/read.php?1,63843. A message from the Mesmerize Records label.
ffs, just when one gets a hold of something that benefits the artist and begin to believe in it…

 

[caught gesture]

Digging deeper. Tencent owns Tencent Music. As of 2018, 46.6% of Tencent Music class A ordinary shares are owned by Spotify. Obviously Spotify Technology SA is a Luxembourg-based company. Tencent Holdings Limited are a 11% shareholder in Spotify.
I’m getting more depressed now. A company that pays artists a pittance, avoids paying taxes, is now intertwined with bandcamp.

 

[dpturner]

so spotify wants to monetize bandcamp. meaning, redirect artist compensation to shareholders. this just sucks any way you look at it.

 

[Chrispy]

Corporations are fun

 

[Sombreuil]

First Fender that buys Presonus, now Epic with Bandcamp.
Well, considering it means bad news 50% of the time, I'm not too optimistic but we'll see...

 

[Zensō]

First Fender that buys Presonus, now Epic with Bandcamp.
Well, considering it means bad news 50% of the time, I'm not too optimistic but we'll see...

With Epic’s reputation, as well as the fact that Tencent own’s a 40% share, this is not going to end well. Really, really disappointing...

 

[Artsfols]

Here is something to think about.
Bandcamp is profitable. Spotify is bleeding money. That bodes well for the 'bandcamp' model, and why wouldn't any future owners preserve it.

How can this be when Bandcamp pays out decently and Spotify pays radio level royalties?
You probably know the answer. Bandcamp also charges customers a decent, fair amount, while Spotify gives the product away. Free accounts and if you do pay, they give you an infinite music library for a too low monthly fee. On top of this, there's no 'moat' around the Spotify business model and price competition is intense.

It's interesting that someone figured out Spotify now having a large indirect investment in bandcamp. I would not be surprise if they intend to pivot the digital subscription service by competing with themselves.

Note that apple itunes also paid a fair royalty, according to various artists I quizzed about the subject. It's the streaming subscription model that is ripping off the artists; let's hope that changes.

 

[caught gesture]

 

[charleski]

Here's an article from Ars Technica giving the reason Epic made this acquisition:

Bandcamp says it can’t afford Google Play billing, Epic files injunction [Updated]

Epic bought Bandcamp last month. Now Bandcamp is a weapon against app store owners.

arstechnica.com

TLDR: it's just a strategic move in Epic's bid to bypass app store charges.