Spotify Technology S.A. (NYSE:SPOT), an audio streaming subscription service, acquired SoundBetter, a Brooklyn, NY-based audio production and collaboration marketplace for creators to connect and hire audio professionals.
The amount of the deal was not disclosed.
With the acquisition, SoundBetter will join Spotify for Artists, which provides services like insights, profile management and promotion tools to more than 400,000 artists and their teams. This deal will expand this offering giving artists the chance to use SoundBetter as a way to find collaborators, produce great music or generate additional income.
Founded in 2012 by CEO Shachar Gilad, SoundBetter offers a comprehensive global marketplace for music and audio production professionals for hire in the world along with a member community of more than 180,000 artists (Singers, Producers, and Mixing & Mastering Engineers) spanning 176 countries and 14,000 cities worldwide.
Launched in 2008, Spotify gives users the opportunity to discover, manage, and share over 50 million tracks for free, or via upgrade to premium services, which give access to exclusive features including offline mode, improved sound quality, Spotify Connect and ad-free listening.
Today, it has a community of more than 232 million users, including 108 million premium subscribers, across 79 markets.