Epic Games Store announced. 88/12 revenue split. Super Meat Boy available for free now!

The announcement

By far the most interesting part is the split they'll demand, though that topic is naturally more the concern of developers than gamers.

All Developers Earn 88%
Developers receive 88% of revenue. There are no tiers or thresholds. Epic takes 12%. And if you’re using Unreal Engine, Epic will cover the 5% engine royalty for sales on the Epic Games store, out of Epic’s 12%.

Seems the guy behind Steamspy had been working on this project for some years.

Edit:
So Epic has something nice to convince customers too: Free games!

Q: What are you doing to make the Epic Games Store more attractive to consumers?

Tim Sweeney: Among other things, the store will also feature one free game every two weeks throughout 2019. Epic is funding these free releases so players can experience the wide range of creative works that will be available.

Source: This interview.

Edit 2:
Another interview with some interesting insights. Namely how Epic calculates the costs.

How did you determine the revenue split percentage, and is this a locked number moving forward?

While running Fortnite we learned a lot about the cost of running a digital store on PC. The math is quite simple: we pay around 2.5 to 3.5 percent for payment processing for major payment methods, less than 1.5 percent for CDN costs (assuming all games are updated as often as Fortnite), and between 1 and 2 percent for variable operating and customer support costs. Fixed costs of developing and supporting the platform become negligible at a large scale. In our analysis, stores charging 30 percent are marking up their costs by 300 to 400 percent. But with developers receiving 88 percent of revenue and Epic receiving 12 percent, this store will still be a profitable business for us.

The Epic Games store is a long-term effort that we’ll be extending and improving for years. Ultimately, we hope competition between stores means better deals for all developers!

Edit 3:
You can download the launcher here

Free games list: