Spotify has announced that it has acquired the licensing service company Loudr.
Loudr, launched in 2013, 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.
What Loudr has built is more than just a smart and easy way for artists to obtain mechanical licenses; it’s true music industry innovation,” said Spotify's global head of publishing Adam Parness.
“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.”
Saying that Loudr has “joined the Spotify family”, their team will move into Spotify’s New York offices, where it will continue working with its current partners, whilst fuelling Spotify’s "continued efforts towards a more transparent and efficient music publishing industry for songwriters and rights holders".
The news comes days after the streaming giant announced their new partnership with TV-on-demand service Hulu. The ‘Spotify Premium with Hulu’ package, offers access to Spotify’s ad-free service, alongside Hulu’s ‘Limited Commercials’ service.