Spotify acquires SoundBetter music production platform

The Swedish multiplatform application expands its services used for music playback via Streaming, with the purchase of SoundBetter, a platform that promotes about 400,000 artists, and with offices in 176 countries and 14,000 cities

The digital music service that provides access to millions of songs reaches more than 180,000 users affiliated with the SoundBetter music production collaborative platform.

With regard to this expansion carried out by the Swedish multiplatform application Spotify, the popular company Streaming has not revealed any details. It is presumed through that perhaps it has not meant a great financial effort, because it is valued in more of 23,000 million dollars.

In a statement, the Product Manager of Spotify, Beckwith Kloss, informed that the platform is building its own tools for creators in order to provide the necessary resources to achieve success. Kloss said how gratifying it has been for creators to generate income through this music producer, “as well as a beneficiary of its good network of professionals, from instrumentalists to composers and producers, as they improve their themes.”

Meanwhile, Shachar Gilad, co-founder and CEO of SoundBetter, indicates that this platform offers the most complete global market in the world with an extensive network present in 176 countries and 14,000 cities.

The music producer says it has generated revenues that exceed $ 19 million for musicians and producers who use SoundBetter. After this announcement, Spotify shares down 0.04% on the New York Stock Exchange one hour after the opening of the session, which indicates that the service yields relatively positive balances.

K. Villarroel

Source: bancaynegocios

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