Radio Facts: Spotify
Spotify is continuing to build its arsenal of audio tools for music artists with its latest acquisition of SoundBetter, an audio production and collaboration marketplace based in Brooklyn.
Though specific details about the deal were not disclosed, Spotify plans to combine SoundBetter into the Spotify for Artists group. That will give creators—including singers, songwriters, producers, mixing/mastering engineers, and session musicians—the chance to connect with each other and hire services from fellow artists, generating additional income. SoundBetter has over 180,000 artists registered on its network across the globe.Since SoundBetter’s start in 2012, it has been able to pay over $19 million to musicians and producers. Current payouts average to be about $1 million per month across the vast network.“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,” Beckwith Kloss, Spotify’s VP product, creator, stated.SoundBetter co-founders Shachar Gilad and Itamar Yunger are also thrilled to be able to work with Spotify through this deal. “One of the things that kept us going through this startup rollercoaster over the past few years is hearing stories from artists who tell us we’ve changed their lives,” Gilad said of their work at SoundBetter. “Talented folks who, thanks to SoundBetter, quit their day jobs and are doing music full time and earning a respectable living. We truly believe that with Spotify, we can make the number of artists who have such stories much, much bigger.” He also added that “this collaboration will help drive more quality content to Spotify’s hundreds of millions of listeners while helping artists earn a living.”