Whew, what a week. For those who may not be following the absolute fiasco surrounding the music platform Bandcamp, you are urged to read this post, found below, amongst other outlets covering the news. Bandcamp is one of the last platforms out there who pays artists fairly, and has created a beautiful community of music lovers.
For those who may be unaware of Bandcamp, please give their about page a quick looksee. While Bandcamp is often lumped in with the streaming giants, such as Spotify or Apple Music, Bandcamp’s revenue/business model couldn’t be more polar opposite; the biggest differentiators being their payout system to artists (82 - 85% of purchases), the ability to own your music, and the unbelievable unique editorials on genres, labels, and the artists themselves. Ever since 2008, Bandcamp has been a tour de force; a beacon of light & hope for artists, and a triumphant success story in the stormy sea that is the music industry.
For part one, you’ll find an overview of the news concerning the music platform over the past 18 months. Tomorrow, part two will showcase an overview of Bandcamp, a deeper dive on Songtradr (the purchasing company of Bandcamp). Part three, delivered on Monday, will reveal my opinion/feelings on the whole debacle. To be honest, my emotions are still processing from the whole engagement. Comparing the current situation to that of a relationship falling apart before your very eyes might be a touch dramatic, but my grief & love surrounding Bandcamp is very real.
This past Monday, devastating news began circulating amongst the twitter crowd - half the staff of Bandcamp, including editors, writers, and tech, had been laid off. This was only weeks after Epic Games, who originally acquired Bandcamp in spring of last year, sold the music platform to Songtradr.
For some, the news of layoffs, and the layoffs themselves, came as no surprise; the purchasing of Bandcamp by Epic Games in spring of last year could retrospectively be seen as the genesis of ill will to a tight-knit community. The beginning of a dark mark on something so beloved by many.
When originally posting about the Epic Games purchase, then Bandcamp CEO Ethan Diamond stated “Bandcamp will keep operating as a standalone marketplace and music community, and I will continue to lead our team” and that the revenue based system for artists wasn’t going anywhere.
Despite Diamond’s statement, music fans & musicians (many who are financially dependent on the site) were skeptical about Epic’s intentions with Bandcamp; and rightly so. What plans would the monolith company known for games, such as the ever-popular Fortnite, have for the indie music platform? And more so, were they going to disturb what made Bandcamp thrive?
A month after Epic’s purchase of Bandcamp, speculation came to light, as news dropped that the music platform was being used in a grand antitrust lawsuit against Google, and Google’s Play Store in-app billing. Was Bandcamp just a pawn in Epic’s arsenal against Google? Citing Bandcamp’s own in-app store, Epic intended to show the court that Bandcamp was a profitable alternative to both Google & Apple’s app stores. If Google planned to take a cut of sales, then Epic could show the business model of Bandcamp wasn’t viable.
With Bandcamp now immersed in the gaming conglomerate, Bandcamp employees didn’t want to be lost in the sea of Epic’s projects. In May this past year, a majority of Bandcamp employees voted 31 - 7 in favor of unionizing the company. Ethan Diamond acknowledged the union in a statement.
Despite Epic Games playing sleight of hand, Diamond’s earlier words about Bandcamp, remaining, well, Bandcamp, rang true. After over a year had passed from Epic’s original acquisition date of the platform, Bandcamp Friday’s continued frequently, and the revenue model remained untouched. Epic was leaving Bandcamp alone, playing the silent investor. With union talks officially beginning this past August, a collaborative path between the two companies was appearing more sanguine. This was, until the end of last month.
On September 28th, Tim Sweeney, the CEO of Epic Games, released an email to all employees stating 16% of the company would be laid off, and Bandcamp would be divested & sold to Songtradr, a business-to-business music licensing platform. The same day, many of the Bandcamp staff were locked out of the systems necessary to do their jobs, and without job offers from Songtradr. While Bandcamp’s business and operations were included in the sale to Songtradr, the staff was not. Bandcamp executives have seemingly vanished without a peep since.
In a press release surrounding the acquisition, Songtradr said it would “continue to operate Bandcamp as a marketplace and music community with an artist-first revenue share.” Songtradr CEO Paul Wiltshire stated “The acquisition of Bandcamp will help Songtradr continue to grow its suite of services for artists. I’m a passionate musician myself, and artistry and creativity have always been at the heart of Songtradr. Bandcamp will join a team of music industry veterans and artists who have deep expertise in music licensing, composition, rights management, and distribution,”
While the tune is sung optimistically, a statement from Songtradr released on October 5th rang differently. Bandcamp’s unionization efforts were being reviewed, but “Based on its current financials, Bandcamp requires some adjustments to ensure a sustainable and healthy company that can serve its community of artists and fans long into the future.” Yikes. The statement continues with information regarding severance packages for those employees who don’t receive offers from Songtradr in the next coming weeks. At the end, Songtradr reiterates its plan for keeping all the existing Bandcamp services.
Bandcamp’s staff were left in limbo, unsure of their futures, until this past Monday when Songtradr officially announced the layoffs. Roughly half the staff were let go, with the site operating currently with a skeleton crew of just a few people. While it was previously believed the Bandcamp union faced the prospect of having to start negotiations over again with Songtradr management, in a surprise to no one, all eight of the elected union bargaining team members have been let go. Double yikes.
The feelings surrounding the layoffs are a heavy mix of disbelief, anger, and more anger. The ambivalent concerns about Epic’s purchasing of Bandcamp has now translated into pure panic and heavy loss. An entire community, built around a platform born and operated by artists, is grieving.
At this moment, the Bandcamp website is operating as usual. October’s Bandcamp Friday transpired without any hiccups, and the weekly editorials, like Bandcamp Daily, are still continuing at the moment. With the purchase closing within the next few weeks, it’s unknown if, or when, changes will come from Songtradr. The future of Bandcamp, a platform seen as a rebellious answer to the streaming giants, is up in the air.
///