Spotify has acquired Loudr, a company which builds products for royalty tracking and payment.
Loudr’s products help digital music services to identify, track, and pay royalties to music publishers.
Spotify said the acquisition will help it work towards a more efficient and transparent music publishing model.
Loudr’s team will join Spotify’s New York offices, and the company will continue to provide services to its publishing and aggregator partners.
“The Loudr team perfectly complements Spotify’s music publishing operation and we believe we can continue to foster a more modern music publishing landscape,” said Spotify.