Spotify Acquires Soundbetter - Is This Good News for the Industry?
On September 12th, 2019 Spotify made the announcement that it had acquired Soundbetter, a website that allows musicians, songwriters, producers, sound engineers, and much more to connect and collaborate remotely.
This acquisition highlights the growth of the remote music production space, with investment from the biggest player in the music distribution space, Spotify, bringing mainstream attention to the nascent industry. The increasing investment into companies occupying this space raises the significance of other key players in the field, unlocking further opportunities for growth.
Musiversal is a rising startup that is set on a quick growth trajectory and we are bringing some fundamental changes to the online music production industry that will expand its size and scope. The rapid development of technology in the field of media production has led to increasing demand for services that enable people to produce high-quality content in an affordable, accessible and connected way. Yet there are still barriers in the industry and we believe that Musiversal’s model is the best and most powerful way of taking these barriers down.
While many sites such as Soundbetter solve problems of access and ease of connectivity, they do little to solve age-old problems of cost for the creators, inconsistent work for the musicians and extreme competitiveness that have always plagued creative industries. We want to help advance the current trend of connecting music creators to help enhance their capability to make professional quality music. However, we have also pushed this even further by significantly reducing the cost of music production, and at the same time providing consistent work to musicians.
We strongly believe that one of the keys to building a highly successful company in this space is to solve two of the main problems: make ultra-high quality music production cheaper and accessible by at least one order of magnitude for music creators, and create good streams of income to talented musicians. Using technology to improve the “game” for people is not only more ethical, but also ensures that everyone in the space is excited to see Musiversal become more relevant.
We have achieved this with our shared session model. It works by dividing longer recording sessions into time slots which can then be booked by customers for as short or long as they need. This way many composers can record their music on a given day, sharing all the costs. The result is that musicians and studios get paid at their usual rate, but customers only pay for the amount of time they need.
By making recording sessions and other aspects of music-making simpler, more accessible and more affordable we can use technology to extend the technical abilities of music creators all over the world.
Musiversal is striving to bring our vision to the world and with our reputation already rising rapidly we will become a major player in the space. We want to congratulate Spotify for its great acquisition and the founders and team of Soundbetter for all the hard work and success! We are looking forward to advancing this space much further.
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