Spotify has acquired SoundBetter, a marketplace for audio production professionals that connects musicians, producers, and content creators worldwide. Founded in 2012, SoundBetter has built a community of approximately 18,000 professionals across 14,000 cities in 176 countries.

This acquisition aligns with Spotify's strategy to expand beyond music streaming and enhance its Spotify for Artists platform. The move could help Spotify:

• Provide additional resources and income opportunities for creators
• Build a network of music professionals and collaborators
• Develop its own IP to reduce dependency on major labels
• Strengthen its global presence against competitors like Apple, Amazon, and Google

"As we build out our tools for creators, we want to give them the resources they need to thrive," says Beckwith Kloss, VP Product, Creator at Spotify. SoundBetter CEO Shachar Gilad adds that their platform is "the most comprehensive global marketplace for music and audio production professionals for hire in the world."

This acquisition follows Spotify's recent investment in Distrokid and its expansion into podcasting, suggesting a broader strategy to diversify beyond its core streaming business model, which has struggled to achieve profitability.

While the specific integration plans remain unclear, the acquisition indicates Spotify's commitment to becoming a more comprehensive platform for music creation and distribution, rather than just a streaming service.

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