Spotify has announced that it is acquiring music intelligence company The EchoNest. In an announcement, the streaming music service said the deal "supports Spotify’s strategy to grow global music consumption and overall revenue back to the music industry by building the best user experience and music discovery engine for millions of global fans."
Spotify plans to leverage The Echo Nest’s in depth musical understanding and tools for curation to drive music discovery for its users. The popular streaming music service added that the deal "will also strengthen Spotify’s ability to help brands and partners build amazing music experiences for their audiences."
"We’ve been fans of The Echo Nest for a really long time and honoured to have their talented team join Spotify," said Daniel Ek, Founder/CEO of 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."
"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," said Jim Lucchese, CEO of The Echo Nest. "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."
The Echo Nest will continue to operate out of its headquarters in Somerville, MA, and will also continue to operate in San Francisco.