Spotify has recently grown quietly, acquiring companies that will help it better serve its customers. Earlier this year, the streaming service acquired MightyTV to improve its content recommendations. And Spotify also bought blockchain startup Mediachain Labs in April. Now Spotify has announced that it has acquired Soundtrap, a Swedish startup that enables music creation in an online collaborative recording and production studio. The service will continue to operate normally.
This acquisition is interesting for Spotify. The streaming company’s previous purchases have focused on improving and refining existing services with new technology. But Soundtrap focuses on musical creation. While Spotify has made it clear that it wants to do more to locate and promote emerging artists, it could signal interest in a completely different direction for the company. It certainly raises questions about what Spotify has up its sleeve with this acquisition.
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