Bandcamp employees were laid off following the sale of Songtradr from Epic

October 16 update: around 50 percent of the staff at Bandcamp were laid off after Epic sold the platform to Songtradr. Several employees at the site’s editorial arm, Bandcamp Daily, were among those laid off. they subscriber on X. When Epic announced the sale, the gaming company said that all employees would not receive offers from Songtradr. “These are not new layoffs,” Epic told Vulture in a statement today, adding that laid-off employees will receive compensation from Epic. Songtradr, licensing company, It has been previously confirmed On October 5 it will lay off workers. “Based on its current financials, Bandcamp requires some adjustments,” the company said. He had Bandcamp United, the labor union Asked previously Songtradr is offering employment opportunities to all current Bandcamp employees, along with voluntary severance, after the sale. Songtradr has not yet recognized the union.

“Over the past few years, Bandcamp’s operating costs have increased significantly. It has required some adjustments to ensure a sustainable and healthy company that can serve its community of artists and fans.” After a comprehensive evaluation, including the importance of roles to smooth business operations and pre-existing functionality within Songtradr, 50 percent of Bandcamp employees accepted offers to join Songtradr. We’re committed to maintaining the existing Bandcamp services that fans and artists love, including Artist First Revenue Share, Bandcamp Fridays and Bandcamp Daily.

Original story published on September 28 follows.

It’s game over for Epic’s ownership of Bandcamp. The independent music market is being sold to Songtradr, a licensing platform, along with broader layoffs at Epic. The sale marks the second time Bandcamp has changed hands in less than two years, after Epic purchased the previously independent company in March 2022. At the time, Epic committed to prioritizing artists with Bandcamp while helping with the platform’s technological development. Now, the Fortnite maker is laying off 16% of staff – roughly 830 employees – while also ditching marketing firm SuperAwesome. “For some time now, we’ve been spending more money than we’re making, investing in the next evolution of Epic and the growth of Fortnite as a Metaverse-inspired ecosystem for creators,” said CEO Tim Sweeney. Message to employees. “I have long been optimistic that we could get through this transition without layoffs, but in retrospect, that was unrealistic.”

SongTrader, V Its own press release When announcing the acquisition, he made the same commitment to “continue operating Bandcamp as a marketplace and music community with artist-first revenue share.” The company appears to see Bandcamp as an asset to its licensing business, describing plans to “provide Bandcamp artists with the ability and choice to license their music to all forms of media including content creators, game and app developers, and brands.” Additionally, Epic is investing in Songtradr amid the sale and plans to work with Songtradr to license Bandcamp music for Epic games. It sounds complicated, but as long as we can still buy our albums…