Spotify announced the purchase of the SoundBetter music production platform. The service helps musicians in their search for professionals focused on projects in the recording industry.
The intention of the music streaming company is to integrate SoundBetter with Spotify for Artists, a section that enables them to help musicians promote themselves. The acquired company currently has about 180,000 registered users. Each hiring involves millionaire transactions.
SoundBetter was created by Itamar Yunger and Shachar Gilad in 2012 and currently operates not only as a professional marketplace but also in licensing matters. In its seven years of existence, it has received investments from companies such as Verizon Ventures, 500 Startups, and Eric Ries.
According to Spotify vice president of products, Beckwith Kloss, the intent is that the tools of the service it represents help advance creators’ careers.
“We are excited that creators will be able to generate revenue through SoundBetter, as well as benefit from their network of top professionals – from musicians to composers to producers – as they perfect their tracks.”
Spotify Product Vice President
The companies did not disclose the values of the negotiation. SoundBetter now joins other Spotify acquisitions such as Parcast, Gimlet, and Anchor.
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