Epic Games, maker of hit video game Fortnite and Unreal Engine has acquired online music store and direct-to-fan platform Bandcamp. Epic Games, which is backed by Sony Corp and carries a $28 billion+ valuation has hinted at ambitious plans in music.
“Bandcamp has built an incredible community and business where up and coming artists can succeed thanks to the direct support of their fans, with one of the best revenue models and terms in music,” said Steve Allison of Epic Games.
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In a statement published by Epic, the company says that Bandcamp will play an “important role” in its “vision to build out a creator marketplace ecosystem for content, technology, games, art, music and more”. Epic’s acquisition of Bandcamp marks an even deeper expansion into the music business. The company adds: “Epic and Bandcamp share a mission of building the most artist friendly platform that enables creators to keep the majority of their hard-earned money”.