Epic Video games to purchase on-line music retailer Bandcamp

The Epic Video games emblem, maker of the favored online game “Fortnite”, is pictured on a display on this image illustration August 14, 2020. REUTERS/Brendan McDermid/Illustration/File Picture

Epic Video games Inc. is buying on-line music retailer Bandcamp Inc. in a push to develop the gaming firm’s imaginative and prescient of a market ecosystem for creators throughout video games, music, know-how and different content material.  

Phrases of the deal weren’t disclosed in an announcement on Wednesday.

The transfer to amass Bandcamp — which has an “artists-first income mannequin” the place creators obtain a median of 82% of every sale, in response to the corporate — displays Epic’s longtime give attention to paying creators greater wages than its opponents.

“Truthful and open platforms are essential to the way forward for the creator economic system,” Epic wrote in a press release. “Epic and Bandcamp share a mission of constructing probably the most artist-friendly platform that permits creators to maintain nearly all of their hard-earned cash.”

Epic Video games, the intently held maker of the favored online game Fortnite, has constructed gaming platforms that goal to offer builders and creators extra management and fewer charges. The corporate, based mostly in Cary, North Carolina, launched its personal publishing label in 2020 to cowl improvement prices and provides builders half of the revenue from video games. 

Epic additionally has a PC recreation retailer, the place it takes a 12% reduce of developer gross sales. Competing digital recreation market Steam, in contrast, usually takes 30%. 

Epic Video games has positioned itself in direct opposition to Apple Inc. and Alphabet Inc.’s Google, claiming these corporations app shops are monopolistic and have charged builders an excessive amount of. 

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Ethan Diamond, Bandcamp’s co-founder and chief govt officer, stated the corporate will proceed working as a “standalone” market and music neighborhood led by him. The acquisition will assist Bandcamp develop internationally and push improvement of recent initiatives akin to vinyl urgent and stay streaming companies, he stated.

“Through the years we’ve heard from different corporations who wished us to hitch them, we’ve at all times felt that doing so would solely be thrilling in the event that they strongly believed in our mission, had been aligned with our values, and never solely wished to see Bandcamp proceed, but in addition wished to offer the sources to carry much more profit to the artists, labels, and followers who use the positioning,” Diamond stated. “Epic ticks all these bins.”