Songtradr, a music licensing platform and marketplace company supporting artists, labels and publishers, and Epic Games, a leading interactive entertainment company and provider of 3D engine technology, announced today that Songtradr is buying Bandcamp. Bandcamp will continue to be run by Songtradr as a music community and store with an artist-first income split.
Fans can find, connect with, and directly support their favourite musicians on Bandcamp, an online music store and community with over 5M artists and labels. Songtradr will be able to increase its capacity to support the artist community and Bandcamp will be able to develop further within a company that puts music first thanks to this acquisition.
Songtradr will also provide Bandcamp artists the option to license their music to companies who produce content, make games and apps, and other types of media. As a result, artists will have more opportunities to profit from Songtradr’s extensive licensing network while maintaining ownership and management of their musical rights.
In order to create a music inventory where musicians can choose to have their music licensed for usage in the Epic ecosystem, Epic is looking into methods to collaborate with Songtradr. Epic is investing in Songtradr to facilitate Bandcamp’s successful integration into Songtradr and will continue to work with Bandcamp on initiatives like Fortnite Radio.
“The purchase of Bandcamp will aid Songtradr in extending the scope of its artist offerings. As a dedicated musician myself, Songtradr has always placed a premium on artistic expression and originality. Paul Wiltshire, CEO of Songtradr, said that Bandcamp will be joining a group of musicians and music industry veterans who have a wealth of knowledge in music composition, licensing, rights management, and distribution.
Steve Allison, Vice President and General Manager, Store at Epic Games, stated that Songtradr “shares Epic and Bandcamp’s values around ensuring artists are fairly compensated for their work.” The integration of Bandcamp with Songtradr will enable Epic to concentrate on its core metaverse, games, and tools initiatives while making it simpler for independent artists to network with creators and developers wishing to license their music.
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