Spotify has made another acquisition….
Spotify has announced the acquisition of CrowdAlbum – a San Francisco-based photo aggregator. The company aggregates photos and videos of artists at their performances to create what it calls ‘visual histories’.
CrowdAlbum is a relatively new company and has only been around since 2013. Although the company has only existed for three years, it has accomplished significant success and has made waves in the industry by working with over 1,000 artists in the US. Artists it has worked with include Lil Wayne, Diplo, Fall Out Boy and several others.
On the acquisition Charlier Hellman, Vice President of Product at Spotify says…
“We’re working every day to find ways to tighten the connection between artists and their fans…the CrowdAlbum acquisition is the latest way Spotify is investing in helping artists find and engage their audiences on and off Spotify, especially around the ever important business of touring.”
This acquisition of CrowdAlbum follows Spotify’s acquisition of Cord Project and Soundwave, and is Spotify’s latest strategy to compete with the uprise of other streaming services in the market. As well as being able to compete more successfully, Spotify hopes that the acquisition will attract more artists to the platform by offering them more tools.
The news comes a day after Apple Music announced surpassing 13 million users. Announcing the news of an acquisition a day later is most likely a tactic to shift the talk from Apple Music to Spotify. The fact that Apple Music gained two million users in just two months reinforces the fact that the company is a major competitor of Spotify.
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