July 20, 2024
Bandcamp loses half its workers after being purchased by Songtradr
Bandcamp loses half its workers after being purchased by Songtradr

Half of Bandcamp’s workers have misplaced their jobs following the corporate’s acquisition by Songtradr, in accordance with SFGate and Selection. Songtradr spokesperson Lindsay Nahmiache has admitted to SFGate that solely 58 of Bandcamp’s 118 workers acquired a suggestion throughout the transition. A remaining worker has confirmed Nahmiache’s assertion to the publication, reporting that half of the corporate has disappeared from its Slack chatroom and that the account owned by co-founder and former CEO Ethan Diamond has been deactivated. Some former workers who did not obtain provides have taken to social networks to disclose that that they had been stored at midnight and were in limbo over the previous couple of weeks.

Based mostly on Songtradr’s assertion to Engadget, the transfer was financially motivated: “As of October 16 2023, Songtradr has formally acquired Bandcamp,” they mentioned. “Over the previous few years the working prices of Bandcamp have considerably elevated. It required some changes to make sure a sustainable and wholesome firm that may serve its neighborhood of artists and followers. After a complete analysis, together with the significance of roles for clean enterprise operations and pre current capabilities at Songtradr, 50% of Bandcamp workers have accepted provides to affix Songtradr. Those that didn’t obtain provides will obtain severance from Epic as a part of their layoffs as communicated on September twenty eighth. We’re dedicated to conserving the present Bandcamp companies that followers and artists love, together with its artist-first income share, Bandcamp Fridays and Bandcamp Every day.”

What the spokesperson mentioned echoes an e mail written by Songtradr CEO Paul Wiltshire to the remaining Bandcamp workers. He mentioned that Bandcamp has not been wholesome financially, and that whereas its income has been constant, its working prices have “considerably elevated making it unattainable to proceed working the enterprise the best way it has been.”

Songtradr bought Bandcamp from Epic Video games in September, merely a yr and a half after the sport developer’s shock acquisition of the music firm. Bandcamp workers had organized beneath Epic, and so they’re now combating for Songtradr to acknowledge their union. Members advised SFGate that they may now negotiate severance packages with Epic, whereas nonmembers will obtain six months of severance pay.

Replace, October 17, 2023, 9:42AM ET: This story has been up to date to incorporate Songtradr’s assertion to Engadget.

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