Half of Bandcamp staff have lost their jobs following Songtradr acquisition
Following Songtradr’s acquisition of the company from Epic Games, around half of Bandcamp staff have been laid off.
In September, Epic Games announced that they were laying off 16% of employees and divesting the audio distribution platform. Songtradr officially acquired the platform on October 16th, stating their intent to “continue to operate Bandcamp as a marketplace and music community with an artist-first revenue share.”
50% of employees have now lost their jobs. Songtradr have since confirmed the layoffs were previously carried out by Epic Games and stated: “Those who didn’t receive offers from Songtradr will receive severance from Epic as part of their layoffs as communicated on September 28th.”
In a statement, Songtradr said, “As of October 16 2023, Songtradr has officially acquired Bandcamp. Over the past few years the operating costs of Bandcamp have significantly increased. It required some adjustments to ensure a sustainable and healthy company that can serve its community of artists and fans.”
The message continued: “After a comprehensive evaluation, including the importance of roles for smooth business operations and pre existing functions at Songtradr, 50% of Bandcamp employees have accepted offers to join Songtradr. Those who didn’t receive offers will receive severance from Epic as part of their layoffs as communicated on September 28th.”
The statement concluded: “We are committed to keeping the existing Bandcamp services that fans and artists love, including its artist-first revenue share, Bandcamp Fridays and Bandcamp Daily. We are looking forward to welcoming Bandcamp into our musically aligned community. We share a deep passion for all things music and will continue to serve artists, labels and the fans who make it all possible.”
Bandcamp United, a union for employees at the company, also released a statement on the layoffs. “Today, Epic Games’ sale of Bandcamp to Songtradr was closed and at least half of Bandcamp’s staff was laid off. This is heartbreaking,” they wrote on Twitter.
“We love our jobs, the platform we’ve built, and the Bandcamp community. We’re glad we have our union – coworkers who have each other’s backs. We’ll be moving together to decide what our next steps are,” they continued. The union also stated their plans to speak with Epic Games.
Read the full statement from Bandcamp United below.
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