Songtradr acquisition of Bandcamp results in layoffs of nearly half of staff
- Epic Games previously acquired Bandcamp in March 2022 but opted to sell it to Songtradr.
- Songtradr cited increasing operating costs as the reason for layoffs, which affected around 50% of Bandcamp's 120 employees.
- The Bandcamp Union, formed after the sale, has been negotiating with Epic Games but has not been recognized by Songtradr.
- Bandcamp is known for its artist-friendly revenue model and services like Bandcamp Fridays.
- The future of Bandcamp's operations and services under Songtradr ownership remains uncertain.
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