Spotify has announced the acquisition of licensing service Loudr.
Loudr was founded in 2013 to build products and services that make it easy for content creators, aggregators and digital music services to identify, track and pay royalties to music publishers.
“What Loudr has built is more than just a smart and easy way for artists to obtain mechanical licenses; it’s true music industry innovation,” said Spotify's global head of publishing Adam Parness. “The Loudr team perfectly complements Spotify’s music publishing operation and, together, we believe we can continue to foster a more open, streamlined, and modern music publishing landscape.”
The Loudr team, which will join Spotify’s New York offices, will continue to provide select services to its publishing and aggregator partners, while contributing to Spotify’s "continued efforts towards a more transparent and efficient music publishing industry for songwriters and rights holders".