Spotify has acquired Soundtrap, an online music studio that lets people collaborate on music creation in real time. Financial details of the deal were not disclosed. Soundtrap’s service will continue to be available.
Spotify’s announcement of the deal did not specify how it would leverage Soundtrap’s tech or expertise in house. The streaming service has made multiple acquisitions in the past few years, including recommendation platform MightyTV and blockchain startup Mediachain Labs. Bringing a music creation tool into the brand is a new type of purchase for Spotify. We’ll be watching to see if and how the company applies this technology to its experience.