Spotify has been quietly expanding recently, acquiring companies that will help it serve its customers better. Earlier this year, the streaming service acquired MightyTV to improve its content recommendations. And Spotify also purchased the blockchain startup Mediachain Labs back in April. Now, Spotify announced that it has acquired Soundtrap, a Swedish startup that allows for the creation of music in an online collaborative recording and production studio. The service will continue to operate as per usual.
This acquisition is an interesting one for Spotify. Previous purchases by the streaming company have centered on improving and refining existing services through new tech. But Soundtrap focuses on music creation. While Spotify has made clear that it wants to do more to locate and promote up and coming artists, this could signal interest in a completely different direction for the company. It certainly raises questions about what Spotify has up its sleeve with this acquisition.