Spotify has announced the acquisition of visual histories aggregator CrowdAlbum.
Launched in 2013, CrowdAlbum is a company that aggregates photos and videos from music events that have been shared on social media to create “visual histories,” and help artists connect with some of their fans.
Charlie Hellman, VP of Product at Spotify:
"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."
The photo sharing service works with more than 1,000 artists and venue partners in the U.S. including Fall Out Boy, Lil Wayne, Diplo, and Death Cab For Cutie. It will merge with the music streaming service to build products such as Spotify Fan Insights and Concerts, so artists can better understand their listeners and Concerts and promote shows to relevant fans.
Is this yet another move to grow its listeners and overall business?
The San Francisco-based visual histories aggregator has raised only $100,000 since 2013 and is a small yet influential startup. Industry leader Spotify has made similar acquisitions, such as Cord Project and Soundwave to name a few. By building more business-to-business services, the Swedish commercial music streaming service can interact more musicians to the platform. It can also bring an end to memes around the platform being a breeding ground of lost revenues for major artists, and at the same time compete against streaming bigwigs.
Music streaming platforms like Soundcloud and Pandora offers analytics and messaging services tools to help artists view how their music is being heard, control how their music is getting shared and also communicate with fans.
Financial terms of the deal have not been disclosed.