News Contact Us

Spotify acquires New York-based music production platform SoundBetter

Author : Paroma Bhattacharya | Published Date : 2019-09-14 

Spotify would be integrating the music production platform’s services with Spotify for Artists, a tool that offers musician several services such as analytics.

Spotify Technology SA, a Swedish media service that offers podcasts and DRM-protected music from media companies and record labels, has recently bought SoundBetter LLC, the music production marketplace.

According to reliable sources, the music production platform will soon be a part of Spotify for Artists feature that offers profile management, promotion tools and insights to musicians and their bands. Reportedly, SoundBetter’s network simplifies the process of hiring audio engineers, musicians, songwriters and producers.

The company, which was founded in 2012, has managed to register over 180,000 artists on its platform and has given approximately $19 million to musicians and producers so far, which would average around $1 million a month. However, the company charges an undisclosed amount in commission from every transaction.

Speaking on the move, Beckwith Kloss, VP Product & Strategy, Spotify, said that the company excited to build out its services for creators that would help them with the necessary resources, helping them become successful.

He said that SoundBetter shares the same vision and their company is excited with the potential of SoundBetter and how it could help its creators generate revenue through its service, as well as profit from its huge network of professionals ranging from songwriters to instrumentalists to producers.

According to Shachar Gilad, CEO, SoundBetter, their firm provides an extremely thorough global marketplace for all the audio and music production professionals across the globe, and has a member community spread across 14,000 cities and 176 countries worldwide.

He further added that the company is thrilled with the benefits that Spotify brings to the table, like its resources, global scale and commitment to increase their network and deliver huge economic opportunities for all artists.

Source Credit: https://in.reuters.com/article/soundbetter-m-a-spotify-tech/spotify-buys-music-production-marketplace-soundbetter-idINKCN1VX180

About Author

Paroma Bhattacharya

Paroma Bhattacharya

Paroma Bhattacharya, having completed her post-graduation in Journalism and Mass Communication, started her career in writing with resourceful and informative content development across diverse fields. Having dealt in myriad topics ranging from business to real estate, she now pens down articles for fractovia.org and other portals. She can be contacted at- [email protected] | https://twitter.com/paromab1

Related News

LVMH discusses a potential takeover of Tiffany for $14.5 billion

Published Date: 2019-10-29         Author: Paroma Bhattacharya

LVMH, one of the biggest luxury goods conglomerates in the world recently revealed that it is planning a takeover of the American luxury jewelry company, Tiffany & Co. Both the companies confirmed in separate statements that a takeover bid is being reviewed and a price of nearly $14.5 billion is... Read More

MariMed expands its presence by signing a licensing deal with Tropizen

Published Date: 2019-10-26         Author: Paroma Bhattacharya

Marijuana has always been classified as a Schedule I drug in the U.S., putting it in the same category as ecstasy, heroin and LSD, with an argument that it is a substance that can be abused and lacks medical value. But recent reports have revealed that Cannabis contains many medicinal properties ... Read More

MarginEdge raises $5M in Series A round led by Osage Ventures, IGC

Published Date: 2019-10-25         Author: Paroma Bhattacharya

The new investment will help MarginEdge form new alliances and expand geographically   This has boosted MarginEdge’s valuation to $10.4 million, the highest since its launch in 2015 Restaurant software platform developer MarginEdge has reportedly managed to raise $5 million in... Read More

© 2020 Fractovia. All Rights Reserved