Spotify has acquired SoundBetter, a global marketplace for music professionals that connects over 18,000 musicians, producers, and audio professionals across 14,000 cities and 176 countries.

The acquisition aims to enhance Spotify for Artists by providing creators with additional resources and income opportunities. Musicians can connect with instrumentalists, songwriters, and producers to perfect their tracks through SoundBetter's professional network.

This move represents Spotify's strategic shift from merely streaming music to facilitating music creation. It follows similar expansions into podcasting and distribution services, potentially helping Spotify develop its own IP and reduce royalty costs.

Key aspects of the acquisition:

• SoundBetter has facilitated "tens of thousands" of projects since 2012
• The platform operates in 176 countries, strengthening Spotify's global presence
• Integration will focus on providing tools and resources for creators
• Follows Spotify's investment pattern in creator-focused services like Distrokid

While the exact integration plans remain unclear, this acquisition appears to be part of Spotify's broader strategy to become more valuable to creators while diversifying beyond its core streaming business model.

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