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One of many greatest music trade tales of the 12 months arrived final week with the information that Songtradr is to accumulate Bandcamp from Epic Games.
The announcement arrived a 12 months and a half after Epic (the maker of the hit online game Fortnite, and Unreal Engine) itself acquired Bandcamp – an internet music retailer and direct-to-fan platform.
Immediately (October 5), Songtradr has responded to a press release issued by US-based Bandcamp staff yesterday (October 4), which revealed that their union – Bandcamp United – had despatched a letter to Songtradr outlining an inventory of calls for across the sale of the corporate.
In line with the Bandcamp staff’ press launch, they’re “demanding employment presents for all staff; clear, constant, and equitable voluntary severance presents; employment presents for all staff”.
The Bandcamp staff are moreover demanding that Songtradr acknowledges the Bandcamp United union.
The employees’ PR claimed that, on September 28, “In an inside announcement to workers, Epic Video games wrote that Songtradr, Inc. would offer positions to some Bandcamp staff however not all.”
Songtradr advised MBW in an announcement in the present day: “Now we have obtained Bandcamp United’s letter and are reviewing it.”
The assertion added: “Supporting the Bandcamp group will likely be our primary precedence as soon as the acquisition is accomplished.”
Songtradr additional clarified that it “doesn’t personal or management Bandcamp but”, and that “we’re within the means of buying Bandcamp from Epic Video games, and we anticipate the transaction to shut throughout the subsequent few weeks”.
Bandcamp, based in 2008, has beforehand reported to have been profitable since 2012. The corporate additionally reports that, by way of its platform, followers have paid artists and their labels $1.19 billion so far.
It’s not clear if that profitability continued beneath Epic Video games’ possession. Songtradr stated in its assertion in the present day, that “primarily based on its present financials, Bandcamp requires some changes to make sure a sustainable and wholesome firm that may serve its group of artists and followers lengthy into the longer term”.
Songtradr has additionally confirmed in the present day that “not all Bandcamp staff will obtain presents from Songtradr” however that it’s going to “will work in the direction of a good and equitable consequence for the worldwide members of the Bandcamp workforce”.
In line with Songtradr, any staff who don’t obtain presents throughout the subsequent few weeks will obtain severance from Epic “as a part of their layoffs as communicated on September 28”.
Bandcamp staff stated in their very own press assertion on Wednesday (October 4) that they “went to the desk with Epic Video games Administration on Monday and Tuesday for ‘results bargaining’ to barter severance”. They stated that Epic has agreed to further bargaining dates on October 10 and 11.
After the transaction closes, and Songtradr formally turns into Bandcamp’s new proprietor, the previous firm plans to maintain common current Bandcamp companies and initiatives together with Bandcamp Fridays, Bandcamp Each day and the platform’s so-called “artist-first income share”.
Bandcamp Fridays launched in early 2020 on the peak of the COVID-19 pandemic when lockdowns impacted the earnings of indie artists from excursions and exhibits.
In response, the corporate waived its share of income and donated all gross sales to artists for twenty-four hours on March 20, 2022.
The Bandcamp group spent $4.3 million on music and merch on that day, round 15 instances greater than the quantity they spend on a standard Friday. The proceeds have been all directed to artists. Bandcamp continued the initiative on the next first Fridays of each month after that. Within the 21 Bandcamp Fridays that adopted, greater than $78 million was paid to artists and labels,
Then, after a three-month hiatus, the initiative returned beneath Epic’s possession.
Underneath Bandcamp’s artist income share, the corporate claims that when a fan buys one thing on its platform, “a median of 82% of the cash goes to the artist or their label — sometimes in 24-48 hours — and the rest covers our revenue share and fee processor charges”.
Bandcamp’s share of gross sales is 15% on digital gadgets, and 10% on bodily items. It says that fee processor charges are separate and fluctuate relying on the scale of the transaction, however for an average-size buy, they quantity to an extra 4-7%.
You may learn Songtradr’s assertion issued in the present day (October 5) in full under:
Now we have obtained Bandcamp United’s letter and are reviewing it. Supporting the Bandcamp group will likely be our primary precedence as soon as the acquisition is accomplished.
Songtradr doesn’t personal or management Bandcamp but. We’re within the means of buying Bandcamp from Epic Video games, and we anticipate the transaction to shut throughout the subsequent few weeks. Epic has dedicated to working Bandcamp Friday as deliberate and can guarantee Bandcamp can proceed to function and assist artists by means of this transition.
Not all Bandcamp staff will obtain presents from Songtradr. Based mostly on its present financials, Bandcamp requires some changes to make sure a sustainable and wholesome firm that may serve its group of artists and followers lengthy into the longer term. People who don’t obtain presents throughout the subsequent few weeks will obtain severance from Epic as a part of their layoffs as communicated on September twenty eighth.
We are going to work in the direction of a good and equitable consequence for the worldwide members of the Bandcamp workforce.
Songtradr is planning to maintain all the prevailing Bandcamp companies that followers and artists love together with Bandcamp Friday’s, Bandcamp Each day and its artist-first income share.
The press launch issued by the Bandcamp United union on October 4 is under.
On September 28, Epic Video games introduced the sale of Bandcamp to Songtradr, Inc. In an inside announcement to workers, Epic Video games wrote that Songtradr, Inc. would offer positions to some Bandcamp staff however not all.
Bandcamp United – OPEIU Tech Native 1010 was within the means of bargaining their first collective bargaining settlement (CBA) with Epic Video games. Bandcamp United was acknowledged in Could 2023 and commenced bargaining in August.
Having not heard from Songtradr, Bandcamp United represented by The Workplace and Skilled Staff Worldwide Union (OPEIU) despatched a letter on Tuesday (October 3, 2023) to Songtradr CEO Paul Wiltshire asking him to acknowledge the prevailing union.
Bandcamp United is demanding employment presents for all staff; clear, constant, and equitable voluntary severance presents; and recognition of their union at Songtradr with a speedy continuation to bargaining while maintaining all the progress that has been made at the table. For the time being, Songtradr is providing positions to staff on a rolling foundation with a 72-hour turnaround for acceptance regardless of the gross sales paperwork stipulating that the Purchaser permit 7 days to contemplate the supply. As well as, Epic Video games and the Union haven’t come to settlement on phrases for voluntary severance.
“The integrity of the employees who construct Bandcamp is a vital facet of the corporate’s means to uphold its values. Bandcamp’s core mission is greatest protected by retaining all staff and by these staff having a seat on the desk.” – Cami Ramirez-Arau, Assist Specialist
For nearly 15 years, Bandcamp has been constructed on the concept of group. It has functioned as far more than a market, offering a method for artists to attach and talk with followers straight and for like-minded artists to seek out each other. Bandcamp has at all times stood sturdy in its beliefs and its place in the neighborhood that it has helped foster. As algorithms regularly wrest management of the music trade, Bandcamp has preserved an artist-first, defiantly human angle. Sustaining the worth that Bandcamp locations on music is essential for artists all over the place, and it begins with valuing the employees who’ve constructed Bandcamp into the beloved platform it’s in the present day.
“We got here collectively and fashioned this union at Bandcamp so we might assist one another. We’ve been in a position to work successfully and straight with administration at Epic Video games to discount collectively and we wish to proceed this course of with Songtradr.” – Eli Rider, Information Analyst
For the reason that deal was introduced, as a part of the transition course of, most Bandcamp staff have had essential programs entry revoked by Epic Administration and have been unable to do their jobs. With the upcoming Bandcamp Friday — a time of elevated enterprise for the location the place 100% of income go on to artists — the staff are in search of clear and direct communication with Songtradr administration and a continuation of the bargaining course of to get the readability they should do the work that artists depend on.
Bandcamp United went to the desk with Epic Video games Administration on Monday and Tuesday for ‘results bargaining’ to barter severance. Epic Video games has agreed to further bargaining dates (October 10 and 11).
“Bandcamp isn’t Bandcamp with out the individuals who construct and keep the web site – we’re the individuals who made this web site the platform it’s for artists. Songtradr not instantly recognizing Bandcamp United is a worrying indicator that they’ve misunderstood the worth of Bandcamp. It’s not a platform or a portal, it’s a painstakingly hand-crafted group. The employees who make up Bandcamp United are important for the way forward for Bandcamp.” – Ed Blair, Assist Specialist
We’re calling on all artists and followers who love/assist Bandcamp to remind Songtradr that to maintain Bandcamp the identical, they want the identical staff and their union!
Music Enterprise Worldwide
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