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In just one week, the two respected music streaming apps decided to buy music marketing/intelligence companies to boost up their marketing and music discovering. Spotify has been around since 2006. While, Beats Music barely premiered about a month ago and they already are Spotify’s main competitor.
Beats Music acquired Topspin Media on March 4th. The music marketing and monetisation company,Topspin Media, allows musicians, comedians, labels, managers and filmmakers to sell their music, videos, merchandise and tickets. Before the acquisition, the company had an agreement with Spotify. Moreover, Ian Rogers, “Topspin’s respected digital head”, joined Beats Music to become the CEO. Rodgers spoke out saying:
“Beats Music was conceived with a grand and unique vision to unite the world of music listeners and music creators. In January Beats Music launched with the start of its own Artist Tools features including Topspin integration — allowing artists to update their profile page with custom images and merch offers. Over the next several months you’ll see our platform reveal many exciting new features, providing new ways to discover music and engage with your friends and the artists that create it.”
“Today Beats Music is excited to announce a deal to acquire Topspin to help us achieve this unique vision. The acquisition brings a team of talented people who have spent years working on building and fine-tuning the artist-to-fan connection into the Beats Music experience. Topspin + Beats Music combines music discovery and direct relationships between artists and fans in a revolutionary way.”
“A desire to be of value to artists in all facets of their career is in Beats Music’s DNA. We’re committed to establishing Beats Music as a conduit for the artist-fan relationship, a platform where artists have a voice, and a provider of useful data and analytics on how fans interact with artists and their music. This acquisition puts our money where our mouth is”.
On the other hand, Spotify bought Echo Nest and is sure the acquisition will bring in global users. One of Spotify’s goals is to bring music to the whole world, Echo Nest will now allow them to help in music discovery, brands, and partners. Echo Nest will still be free and still operate in San Francisco and Somerville. Derek Ek, the founder and CEO of Spotify, had this to say:
“We’ve been fans of The Echo Nest for a really long time and honored to have their talented team join Spotify. At Spotify, we want to get people to listen to more music. We are hyper focused on creating the best user experience and it starts with building the best music intelligence platform on the planet. With The Echo Nest joining Spotify, we will make a big leap forward in our quest to play you the best music possible”.
Jim Lucchese, CEO of The Echo Nest said:
“Since founding The Echo Nest, Brian Whitman and Tristan Jehan have created a company completely and beautifully obsessed with understanding the world of music to help fans discover more music. Joining forces with Spotify gives us the opportunity to continue doing so as part of the fastest-growing service in the world; we’re thrilled to be part of a team equally as passionate about connecting more people with more music”.
It’s great to see two big companies battle it out and make these great business moves. Let’s see how this goes for both companies.