Bandcamp Loses 50% of Employees Following Songtradr Purchase

Songtradr, a music platform with a focus on artists, has recently let go of 50% of the staff at Bandcamp, the indie music site it acquired. This development comes as Bandcamp's operating costs escalated over the years, necessitating changes to ensure the company's stability and continued service to its community of artists and fans.

Songtradr issued a statement confirming the completion of its purchase of Bandcamp. The statement clarified the need for the restructuring and mentioned that, after a thorough assessment, approximately half of Bandcamp's employees have transitioned to Songtradr. This transition aims to ensure the company's health and capability to uphold the features and services cherished by artists and fans on Bandcamp. These include the artist-friendly revenue-sharing model, Bandcamp Fridays, and Bandcamp Daily.

Epic Games, the company that acquired Bandcamp in the previous year and subsequently reduced its workforce by about 16%, has now sold Bandcamp to Songtradr.

In response to these changes, the U.S. employees of Bandcamp, who had publicly revealed the formation of a union earlier in the year, sent a letter to Songtradr outlining their demands related to the company's sale. Their demands included employment offers for all workers, clear and equitable voluntary severance offers, and recognition of the Bandcamp United union by Songtradr. However, as of the latest reports, Songtradr has not provided an update regarding whether they will officially recognize the union.

Paul Wiltshire, the CEO of Songtradr, emphasized that the acquisition of Bandcamp is a strategic move to expand Songtradr's services for artists. He expressed his commitment to supporting musicians and artists, highlighting the core values of creativity and artistry at Songtradr. With Bandcamp joining forces with Songtradr, a team of experts and artists will work together to enhance services in music licensing, composition, rights management, and distribution.