Spotify has acquired music talent marketplace SoundBetter.
Set up in 2012, the company is described as the "de facto LinkedIn for music professionals" and allows artists and various figures involved in music production and engineering to buy and sell services like mixing, mastering and recording.
"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/CEO Shachar Gilad in a press release announcing the acquisition. “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."
It's not known on what terms Spotify acquired the company.
Last month, Spotify extended its free trial to three months for new subscribers. The company also joined various other streaming platforms in appealing an increase on songwriter royalties which will require the companies to pay more money.
Spotify's total revenue reached $1.85 billion in the second quarter of this year.
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