Half of Bandcamp’s staff laid off following Songtradr acquisition

nme.com:

following the company’s acquisition by Songtradr last month.Last month (September 28), Songtradr – a music licensing platform and marketplace company that supports artists, labels and publishers – revealed that it had acquired Bandcamp from its then-owners, Epic Games.At the time, Songtradr said in a statement that it will continue to operate Bandcamp as both a marketplace and music community with artists receiving “an artist-first revenue share.” The statement added that “this acquisition will help Bandcamp continue to grow within a music-first company and enable Songtradr to expand its capabilities to support the artist community”.Now, slightly over two weeks after the acquisition, it has been confirmed that several of Bandcamp’s staff have been let go, with several members of its editorial team taking to social media to announce their layoffs.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, 2023Songtradr has since confirmed these reports, telling Rolling Stone in a statement that 50 per cent of Bandcamp’s staff have accepted offers to work at Songtradr: “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.