Spotify has announced the acquisition of music data specialist Sonalytic.
The acquisition was revealed on Spotify’s website, as the market leading streaming service looks to bolster is technological and data analysis capabilities.
“We’re happy to announce that Sonalytic is joining the Spotify family,” Spotify said in a statement. “The Sonalytic team is passionate about creating technology to improve the music ecosystem for artists and fans. Their advancements in audio feature detection will be used in several ways to advance Spotify’s mission: from improving Spotify’s personalised playlists to matching songs with compositions to improve our publishing data system.
“Stay tuned for new products we’ll bring to market with Sonalytic’s help.”
Last year, Spotify reached an agreement with Dubset Media Holdings to expand the global footprint of its MixBANK distribution platform.
The deal makes it possible for DJs to upload and legally stream original long-form mixes and single track remixes, creating a new revenue stream for artists whose recordings are sampled and the DJs who create the mixes and remixes.
