Bandcamp Hit With Layoffs After Sale to Songtradr
Update, October 16: Songtradr has initiated layoffs at Bandcamp just weeks after acquiring the platform. Several staff members of the site’s editorial arm, Bandcamp Daily, were among those laid off, they shared on X. Senior editor JJ Skolnik said, “About half the company was laid off today.” Songtradr, a licensing company, previously confirmed on October 5 that “not all Bandcamp employees will receive offers from Songtradr” following the sale from Epic. “Based on its current financials, Bandcamp requires some adjustments,” the company said. Bandcamp United, the workers’ union, had previously asked Songtradr to offer employment to all current Bandcamp staff, along with voluntary severance, after the sale. Songtradr has yet to recognize the union. Vulture has reached out to Songtradr for comment.
about half the company was laid off today. some of the most incredible people i’ve ever worked with, including two of my amazing editorial colleagues @diamonde and @atoosamoinzadeh and most of the incredible support staff among many others. this is a loss, no two ways about it
— jj skolnik (@modernistwitch) October 16, 2023
Original story from September 28 follows.
It’s game over for Epic’s ownership of Bandcamp. The indie music marketplace is being sold to Songtradr, a licensing platform, alongside broader layoffs at Epic. The sale is the second time Bandcamp has changed hands in less than two years, after the formerly independent company was purchased by Epic in March 2022. At the time, Epic committed to prioritizing artists with Bandcamp while helping the platform’s technological development. Now, the Fortnite maker is laying off 16 percent of staff — roughly 830 employees — while also dropping the marketing company SuperAwesome. “For a while now, we’ve been spending way more money than we earn, investing in the next evolution of Epic and growing Fortnite as a metaverse-inspired ecosystem for creators,” CEO Tim Sweeney said in a letter to employees. “I had long been optimistic that we could power through this transition without layoffs, but in retrospect, I see that this was unrealistic.”
Songtradr, in its own press release announcing the acquisition, made the same commitment to “continue to operate Bandcamp as a marketplace and music community with an artist-first revenue share.” The company seems to see Bandcamp as an asset to its own licensing business, describing plans to “offer Bandcamp artists the ability and choice to have their music licensed 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 to Epic games. Sounds complicated, but as long as we can still buy our albums …
Related