Spotify has added another firm to its portfolio of subsidiaries, Whooshkaa is an Australian radio show operating for almost six years now. The startup provides monetizing services to radio broadcasters as well as editing and distributing as in-demand podcasts.
That’s the route Spotify is looking to take, buy radio show startups and spin them off to podcasting. Whooshkaa tech is what radio broadcasters are using to chip in ads for their shows.
While radio shows submit their content to Whooshkaa for ads generations, Spotify will be using its Ad Network. This will help to reach a wider audience hence creating more value.
Spotify recently acquired audiobook and distribution company Findaway. There is no mention of the acquiring fee by the music streaming company actually.
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Findaway is known for handling multiple businesses including distributing audiobooks to other platforms, and audiobook creation. Also, the company provide authors looking for narrators for their work.
The recent acquisition of Findaway by Spotify provides another source of revenue for the music streaming platform. Podcasting, audiobook creation is in high demand and that is an opportunity the company is diving into.
Just like Findaway, Spotify hasn’t disclosed the acquiring fee for its recent purchase. The music streaming platform would be looking to lead the audio space in all its spheres.
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