Epic Games buys out online music store Bandcamp

(Image Courtesy: Epic Games)

Epic Games has announced that it has acquired online music marketplace Bandcamp, which will now be part of the Epic ecosystem. Bandcamp said that they will continue to operate standalone marketplace and the company's co-founder and CEO, Ethan Diamond, will remain in charge.

"The products and services you depend on aren’t going anywhere, we’ll continue to build Bandcamp around our artists-first revenue model (where artists net an average of 82% of every sale)," said Diamond in a blog post.

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Epic Games, in its own blog post, said that fair and open platforms were essential to the future of the creator economy, and that the two companies shared a combined goal, "building the most artist friendly platform that enables creators to keep the majority of their hard-earned money."

The Fortnite maker also said that the music marketplace will play an important role in its vision to make, "a creator marketplace ecosystem for content, technology, games, art, music and more."

“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 Diamond.

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"In Epic, we’ve found a partner who believes as deeply as we do that the future of music, and art itself." He added.

Bandcamp said they were working with Epic to expand internationally, and push development across Bandcamp, "from basics like our album pages, mobile apps, merch tools, payment system, and search and discovery features, to newer initiatives like our vinyl pressing and live streaming services."