Epic Games, a digital marketplace for video games, has acquired Bandcamp, an online record store and music community, for an undisclosed price. According to a blog announcement, Bandcamp will still be operating as a standalone marketplace for the artists-first revenue model.
Nonetheless, with the acquisition, Epic will expand internationally to newer initiatives like vinyl pressing and live streaming services. Bandcamp Co-Founder and CEO Ethan Diamond said that the company aims to provide the resources to bring a "lot more benefit to the artists, labels, and fans who use the site." He continued:
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.
According to reports, over 80% of every sale is generated via the artists-first revenue model. Steve Allison, VP, and GM of the Epic Games Store, says the acquisition will help Epic Games with supporting creators across all media and enabling them to connect directly with their fans.