Streaming music service Spotify has acquired music licensing body Loudr. The company was founded in 2013 to build products and services that make it easy for content creators, aggregators and digital music services to identify, track and pay royalties to music publishers. No financial terms were revealed.
The Loudr team of publishing specialists and technologists will join Spotify’s New York offices. Loudr will continue to provide select services to its publishing and aggregator partners, while contributing to Spotify’s continued efforts towards a more transparent and efficient music publishing industry for songwriters and rights holders.
“What Loudr has built is more than just a smart and easy way for artists to obtain mechanical licences; it’s true music industry innovation,” said Adam Parness, Global Head of Publishing, Spotify. “The Loudr team perfectly complements Spotify’s music publishing operation and, together, we believe we can continue to foster a more open, streamlined, and modern music publishing landscape.”