Spotify Acquires SoundBetter, the Leading Music and Audio Production Talent Marketplace
September 12 2019 - 7:00AM
Business Wire
Spotify Technology S.A. (NYSE:SPOT), the world’s most popular
audio streaming subscription service, today announced that it has
acquired SoundBetter, a leading global audio production and
collaboration marketplace helping creators worldwide connect and
hire top audio professionals. Terms of the transaction were not
disclosed.
“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.
“We're excited that creators can generate income through
SoundBetter, as well as benefit from its network of top
professionals - from instrumentalists to songwriters to producers -
as they perfect their tracks.”
SoundBetter taps into the growing market of audio professionals
looking to create better sounding content and searching for
partners to advance their work. Since its founding in 2012,
SoundBetter has helped tens of thousands of music professionals buy
and offer services across the globe. It has a community of more
than 180,000 artists registered on its network.
“SoundBetter offers the most comprehensive global marketplace
for music and audio production professionals for hire in the world
along with a member community spanning 176 countries and 14,000
cities worldwide,” said SoundBetter Co-Founder and CEO Shachar
Gilad. “We are excited to benefit from Spotify’s global scale,
resources, and vision to expand our network and drive more economic
opportunities for artists of all levels.”
Spotify continues to invest in developing powerful tools to help
creators create, connect and grow their audience, and have an
opportunity to live off their work. SoundBetter will join the
Spotify for Artists family to work toward this mission. Spotify for
Artists provides valuable services like insights, profile
management and promotion tools to the more than 400,000 artists and
their teams using the platform today. This acquisition will give
the artists and their teams on Spotify for Artists the chance to
discover SoundBetter — as a way to find collaborators, produce
great music or generate additional income.
About SoundBetter
SoundBetter is the world’s leading music production marketplace,
helping musicians worldwide connect and hire top music pros so they
can get to great-sounding release-ready songs.
With tens of thousands of top Singers, Producers, and Mixing
& Mastering Engineers, including dozens of Grammy Award
winners, SoundBetter has the most comprehensive community of vetted
music production pros for direct hire in the world, and a member
group spanning over 14,000 cities worldwide.
With its transparency, verified reviews, trust, top-tier talent
and growing customer base, SoundBetter has become the defacto
LinkedIn for music professionals.
About Spotify Technology S.A.
Spotify transformed music listening forever when we launched in
2008. Our mission is to unlock the potential of human creativity by
giving a million creative artists the opportunity to live off their
art and billions of fans the opportunity to enjoy and be inspired
by these creators. Everything we do is driven by our love for
music.
Discover, manage, and share over 50 million tracks for free, or
upgrade to Spotify Premium to access exclusive features including
offline mode, improved sound quality, Spotify Connect and ad-free
listening.
Today, we are the world’s most popular audio streaming
subscription service with a community of more than 232 million
users, including 108 million Spotify Premium subscribers, across 79
markets.
For more information, images, or to contact the press team,
please head over to our press page at
https://newsroom.spotify.com/.
FORWARD-LOOKING STATEMENTS
We would like to caution you certain of the above statements
represent “forward-looking statements” as defined in Section 27A of
the United States Securities Act of 1933, as amended, and Section
21E of the United States Securities Exchange Act of 1934, as
amended. The words “may,” “might,” “will,” “could,” “would,”
“should,” “expect,” “plan,” “anticipate,” “intend,” “seek,”
“believe,” “estimate,” “predict,” “potential,” “continue,”
“contemplate,” “possible,” and similar words are intended to
identify estimates and forward-looking statements. We intend such
forward-looking statements to be covered by the safe harbor
provisions for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995 and include this statement
for purposes of complying with the safe harbor provisions. Such
forward-looking statements involve significant risks, uncertainties
and assumptions that could cause actual results to differ
materially from our historical experience and our present
expectations or projections, including but not limited to the
following known material factors: our ability to attract
prospective users and to retain existing users; our dependence upon
third-party licenses for sound recordings and musical compositions;
our lack of control over the providers of our content and their
effect on our access to music and other content; our ability to
generate sufficient revenue to be profitable or to generate
positive cash flow on a sustained basis; our ability to comply with
the many complex license agreements to which we are a party; our
ability to accurately estimate the amounts payable under our
license agreements; the limitations on our operating flexibility
due to the minimum guarantees required under certain of our license
agreements; our ability to obtain accurate and comprehensive
information about music compositions in order to obtain necessary
licenses or perform obligations under our existing license
agreements; potential breaches of our security systems; assertions
by third parties of infringement or other violations by us of their
intellectual property rights; competition for users and user
listening time; our ability to accurately estimate our user metrics
and other estimates; risks associated with manipulation of stream
counts and user accounts and unauthorized access to our services;
changes in legislation or governmental regulations affecting us;
ability to hire and retain key personnel; our ability to maintain,
protect, and enhance our brand; risks associated with our
international expansion, including difficulties obtaining rights to
stream music on favorable terms; risks relating to the acquisition,
investment, and disposition of companies or technologies; dilution
resulting from additional share issuances; tax-related risks; the
concentration of voting power among our founders who have and will
continue to have substantial control over our business; risks
related to our status as a foreign private issuer; international,
national or local economic, social or political conditions; risks
associated with accounting estimates, currency fluctuations and
foreign exchange controls; and such other risks as set forth in our
filings with the United States Securities and Exchange
Commission.
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version on businesswire.com: https://www.businesswire.com/news/home/20190912005242/en/
Investor Relations: Paul Vogel ir@spotify.com Or
Public Relations: Dustee Jenkins press@spotify.com
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