The beloved indie music distributor and community hub lost half of its employees today, following an acquisition by music licensing company Songtradr.
Indie music hub Bandcamp has laid off half of its employees, less than a month after the announcement that music licensing company Songtradr had purchased the platform from video game publisher Epic Games. Founded in 2008, Bandcamp is beloved by musicians for its artist-friendly revenue sharing and active fan community. In March 2020, the company launched Bandcamp Friday, which gives artists 100% of profits for sales occurring on the first Friday of every month.
” The Bandcamp staff reductions were part of the September layoffs initiated by Epic Games. A representative for Songtradr told The Times that 60 of Bandcamp's 118 employees were offered the opportunity to retain their position, and that 58 workers had accepted. Additionally, the representative told The Times 50% of the core editorial staff would remain on board. 'Over the past few years the operating costs of Bandcamp have significantly increased,' said the Songtradr representative.
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About half of Bandcamp employees have been laid offBandcamp is letting go of roughly 50 percent of its workforce as a part of Epic Games’ sale of the company to Songtradr.
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