Bandcamp fired half of its staff
Music service Bandcamp has cut about half of its staff, company employees said. This includes editors and support staff.
In September, Epic Games announced the sale of Bandcamp to music platform Songtradr. In the same month, the former parent company cut 830 jobs to cut costs. Epic Games also announced the layoff of another 250 people as a result of the sale of Bandcamp and the separation of the SuperAwesome marketing division into a separate company.
Epic Games acquired Bandcamp in 2022 for an undisclosed sum, and a year later got rid of the music service.
About 50% of Bandcamp employees did not receive an extended offer of employment at Songtradr, but those employees will be eligible for severance pay.
Songtradr has confirmed the closing of the deal to acquire Bandcamp. In March, Bandcamp employees formed a union to address pay inequality and ensure incomes grow in line with economic need. Bandcamp United sent a letter to Songtradr management asking for union recognition. The music platform confirmed receipt of the request, but warned that not all Bandcamp employees will be offered employment at Songtradr.
Bandcamp was founded in 2007. The platform soon began to compete with Spotify and Apple Music, distinguishing itself favorably from other platforms with large payments to artists from streaming revenues. On Bandcamp, musicians have the ability to set their own prices for releases, which allows them to control revenue and make more profit from album sales.