Fortnite maker Epic Games has been making a lot of noise in the music industry lately. It looks like the noise will get even louder.
Earlier this week, Epic raised $2 billion from Sony Group Corporation (parent company of Sony Music) and KIRKBI, the holding company behind The LEGO Group.
And last month, the company fully acquired online music store and direct-to-fan platform Bandcamp, following its acquisition of music games maker Harmonix in Q4 2021.
Now Epic appears to be working on adding a new creator marketplace to its platform – with at least a partial focus on music.
According to a company job listing spotted by MBW, Epic is expanding its digital store capabilities into music by hiring a “Product Director, Store, Music Services.”
Epic says the successful candidate will “partner with [our] Development and store team to drive product integration a new marketplace into Epic’s ecosystem and platform.”
This individual must have at least five years of experience working with e-commerce, music services, or creator marketplaces, with “experience and success” in expanding e-commerce products globally as “a plus.”
MBW has been talking about the Epic Games Store — the company’s video game download portal — and specifically what the music business can learn from the way Epic runs it for a while.
The Epic Games Store launched in December 2018. Epic rewards game developers who sell their content on the store with a generous 88% to 12% revenue share.
Online game retailers traditionally charged a 30% commission on digital sales, so Epic’s decision to split revenue by these percentages was a major coup for video game developers and publishers – the “artists” and “labels” of interactive entertainment, if You will – who sell games through their store.
Elsewhere in the new job posting, Epic hints that its new music services hiring will help build a creator marketplace that goes beyond musicians.
The ad states that the successful applicant “will be a key point in aligning strategy between multiple teams at Epic” — suggesting a coming together of Epic’s music and interactive entertainment strategy.
To lend credence to this idea, the candidate is also expected to: “Work tirelessly to ensure communication and focus on a single common set of goals.”
In a statement released by Epic when it acquired Bandcamp last month, the company said Bandcamp’s platform will play an “important role” in Epic’s “vision to build a marketplace ecosystem for content creators, technology, games… ‘Art, Music and More’. .
Epic added, “Fair and open platforms are critical to the future of the creator economy… Epic and Bandcamp share a mission to build the most artist-friendly platform that allows creators to keep the majority of their hard-earned cash.”
Bandcamp itself only charges 10-15% commission rates as a retailer to independent artists using its platform. On Bandcamp Fridays, it’s free at all.
“Epic and Bandcamp share a mission to build the most artist-friendly platform that allows creators to keep most of their hard-earned cash.”
The language used in Epic Games’ communications surrounding the Bandcamp acquisition caused Epic to double down on its not-so-subtle hints that it wanted to make waves in the music business post-acquisition rock band Creator Harmonix in November 2021.
When it acquired Harmonix, Epic claimed that the Harmonix team’s expertise would help Epic “rethink how music is experienced, created and distributed.”
The question many in the music business will be asking after today’s news: what does Epic’s new marketplace mean for creators in practice?
Epic’s new job posting states that the successful candidate with “[Epic] Branch leadership, development team and other functions driving initiatives that follow a strategic plan initially focused on driving user growth and engagement globally and evolving to create entirely new business and product initiatives.”
They also need to “work with stakeholders to drive and develop strategies to improve creator marketplaces and content for creators and consumers alike.”
Says Epic Games in the job posting, “We are looking for a Product Director who can move as quickly as our product teams.
“In this position, you will be asked to work with cross-functional groups across the company including development, product management, creative services, user experience and more.
“We are looking for individuals who are innovative, organized and have exceptional communication skills.”music business worldwide
https://www.musicbusinessworldwide.com/epic-games-is-building-a-new-creator-marketplace-and-music-looks-likely-to-play-a-key-role/ Epic Games is building a new Creator Marketplace – and music looks to be a key part of it