Spotify is entering the live audio business with the acquisition of the sports talk app Locker Room and its parent company Betty Labs, as reported by Billboard. Locker Room, which was launched in October 2020 as an app that sports fans could use to discuss games together, was purchased for an undisclosed sum. (The Wall Street Journal quoted a source “familiar” with the deal and said the deal valued Betty Labs at around $ 50 million.) The streaming company plans to expand Locker Room into a service that “Offers a range of sports, music and music offers” cultural program as well as a multitude of interactive functions with which developers can connect with the audience in real time. “
“Developers and fans have asked for live formats for Spotify, and we are delighted that we will soon be making them available to hundreds of millions of listeners and millions of developers on our platform,” said Gustav Söderström, Spotify’s chief research and development officer . “The world is already turning to us for music, podcasts, and other unique audio experiences. This new live audio experience is a powerful addition that will enhance and expand the on-demand experience we offer today.”
The new commitment to the emerging live audio market is the latest step in Spotify to position itself as a comprehensive “audio” platform after extensive acquisitions and investments in the podcasting sector. Whatever develops in Locker Room, it will compete against the audio app Clubhouse by invitation only and the competitor Spaces recently launched by Twitter. Read the full blog post on the Spotify acquisition.