According to Diamond in a 2020 interview, Bandcamp has been profitable since 2012. A beloved platform that earned its early customer base through its indie rock and experimental music offerings, its growth was financed by a single, modest infusion of venture capital during its early ascent. Epic’s gaming development platform Unreal Engine, which was developed by Epic’s founder Tim Sweeney, has evolved into a high-tech tool used in television series including “The Mandalorian” and “Westworld.”Īll that technological might stands in stark contrast to the humble indie business that Diamond created to enable seamless online transactions between artists and fans. Operating with a so-called “games as a service” model that generates revenue through ongoing micropayments, “Fortnite’s” success has enabled recent investments including the 2021 purchase of Harmonix, the creator of the popular “Guitar Hero” and “Rock Band” franchises. “Too few companies have too much power in every part of the music business,” wrote the Washington, D.C.-based artists-rights group Future of Music Coalition in a social media thread, adding that “some in the music community have real frustrations with how Epic has dealt with music licensing in the past.”Įpic Games is flush with cash due to “Fortnite,” the popular multiplayer game introduced in 2017.
With artist-friendly Bandcamp Fridays and initiatives that benefit progressive causes, the online music platform has become beloved beyond its indie roots.ĭespite the companies’ assurances, artists-rights activists nervously pondered the repercussions of the sale, which comes on the heels of criticisms of audio streaming leader Spotify over its affiliation with podcaster Joe Rogan and its payment rates to artists and songwriters.
Music The anti-Spotify: How online music company Bandcamp became the toast of the COVID age
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