SoundBetter, the gig economy portal that helps companies find everything from podcast editing pros to tuba players, is the latest acquisition by Spotify. And while not directly part of its stated goal to spend as much as $500 million to build its podcast business, the deal could impact some of the shows it distributes.
SoundBetter is a talent marketplace that helps people working in a variety of audio fields, including music creation, to connect with companies that are producing content. It means that if a narrative podcast is on the hunt for a dialogue editor, they’ll find dozens of options on SoundBetter. The website says it has more than 180,000 registered audio professionals in 14,000 cities worldwide on its network.
“As we build out our tools for creators, we want to give them the resources they need to thrive. SoundBetter has the same vision,” said Spotify VP Beckwith Kloss. He said the main benefit will be for musicians who could be on the hunt for songwriters, producers and instrumentalists. SoundBetter will now operate as a division under Spotify For Artists, the unit that primarily helps musicians promote their songs and leverage the data they receive from Spotify’s analytics.
Since SoundBetter launched in 2012 the company says it has delivered more than $19 million worth of work to the creative professionals on the platform. “We are excited to benefit from Spotify’s global scale, resources, and vision to expand our network and drive more economic opportunities for artists of all levels,” Co-Founder and CEO Shachar Gilad said in a statement.
Financial terms of the transaction were not immediately disclosed.
SoundBetter is likely to find allies in two other Spotify divisions that podcasters are using. Soundtrap was acquired by Spotify in November 2017 and in May it unveiled a virtual studio program aimed at making it easier for podcasters to create their shows. And earlier this year Spotify made a $150 million acquisition of Anchor FM, the software company that podcasters use to create and distribute their shows. Spotify last month began testing a button that encourages users to create their own podcast using Anchor technology.