Spotify acquires SoundBetter, a music production marketplace

Spotify gas acquired music production marketplace SoundBetter, the music streaming service said on Thursday. SoundBtter says it has more than 180,000 artists registered on its network in 14,000 cities spanning 176 countries.

The company lets musicians tap into its database of singers, producer, songwriters, session musician, and mixing and mastering engineers.

Spotify’s monthly active users, which included its ad-supported free version, surged 29 percent to 2332 million people int he second quarter.

Spotify will combine SoundBetter into the Spotify for Artists group, which caters to more than 400,000 artists and their teams. According to Spotify, SoundBetter acquisition will give artists a new avenue to connect with collaborators or generate additional income.

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As we build out our tools for creators, we want to give them the resources they need to thrive. SoundBetter has the same vision, said Beckwith Kloss, VP Product, Creator at Spotify in a statement. We’re excited that creators can generate income through SoundBetter, as well as benefits from its network of top professional-from instrumentalists to songwriters to producers- as they perfect their tracks.

SoundBetter’s investors included 500 Startups, Foundry Group, entrepreneur and author Eric Rise, and Verizon Ventures. The company has not disclosed how much funding is raised.

According to SoundBetter, music pros registered in its database include Kanye West’s Producer, Hoobastank’s Drummer, Jamiroquai’s Guitarist, Beyonce’s Songwriter, Joe Cocker’s Bass player, Herbie Hancock’s Engineer, Morrissey’s Guitarist, The Killers’ Mixing Engineer, [and] George Michael’s Mastering Engineer.

Via: NDTV, Variety