updated 10:43 am EST, Thu March 6, 2014
Music curation API used by other music services will remain open despite purchase
Spotify is looking to bolster the music curation and discovery functions of its service, by acquiring music intelligence company The Echo Nest, the streaming music service has revealed. The purchase will provide Spotify with deeper access to The Echo Nest's knowledge base and music curation tools, currently used by competitors such as Nokia MixRadio and Rdio for their own music discovery offerings.
As part of the acquisition, for an undisclosed sum, The Echo Nest will continue to operate independently out of its Somerville, Massachusetts headquarters and its San Francisco offices. While it will give Spotify a greater ability to pull data from The Echo Nest than competitors, the company's API will remain free and open for third-party developers and companies to use for their own services.
"We've been fans of The Echo Nest for a really long time and honored to have their talented team join Spotify," said Spotify CEO and Founder Daniel Ek, citing the company's need to get users to listen to new music. By acquiring The Echo Nest, Ek claims Spotify will be building "the best music intelligence platform on the planet."