Half of Bandcamp’s Staff Laid Off After Songtradr Acquisition

variety.com:

Jem Aswad Executive Editor, Music Half of the employees at Bandcamp, the artist-centric indie music platform, have been laid off just weeks after the company was acquired by Songtradr, a rep for the company confirms to Variety.

In a statement, Songtradr confirmed that it has completed its acquisition of Bandcamp and continued: “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. 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. “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.” Songtradr acquired the company from Epic Games, which itself acquired Bandcamp just last year but recently laid off around 16% of its staff.