Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Catch up on the day's biggest business stories
Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter
Stay on top of the latest market trends
Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.
Tech news worthy of your time
Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.
Get the inside stories
Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
Want a daily digest of the top Des Moines news?
Get a daily digest of the most important stories affecting your hometown with Axios Des Moines
Want a daily digest of the top Twin Cities news?
Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities
Want a daily digest of the top Tampa Bay news?
Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
Illustration: Sarah Grillo/Axios
Spotify announced Tuesday it's buying Betty Labs, an app developer, and a live audio app developed by Betty Labs called Locker Room.
Why it matters: The deal marks Spotify's first foray into social audio. The company said last month that it was looking at ways to make its podcast more interactive between creators and listeners.
Details: While deal terms haven't been announced, sources say the scope of this deal is much smaller than some of Spotify's other recent acquisitions. Betty Labs employs less than 20 people, per LinkedIn.
- Locker Room is a live social audio app where fans can talk about sports. Spotify said in a statement that in coming months, it will "evolve and expand" Locker Room into "an enhanced live audio experience for a wider range of creators and fans," including in genres like music, and cultural programming.
- The acquisition will allow creators of all kinds to host anything from debates to live concerts.
- “Creators and fans have been asking for live formats on Spotify, and we’re excited that soon, we’ll make them available to hundreds of millions of listeners and millions of creators on our platform,” said Gustav Söderström, Chief Research & Development Officer at Spotify.
The big picture: The pandemic has ushered in a new wave of audio startups — most notably Clubhouse — that focus on social audio experiences, like live chats and events.
- It's no surprise that Spotify would want to get in on the trend, given that other tech giants — from Facebook to Slack — are also beginning to test out social audio features.