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