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Spotify is Getting Better, acquires Content Recommendation

Spotify announced its latest move to expand its marketing and advertising horizons: it has acquired and shut down content recommendation service MightyTV, a startup that focused on video recommendations, with an app that used a Tinder-style swipe interface to help guide you to TV and film choices compatible with your own tastes. As part of the deal, MightyTV’s founder and CEO Brian Adams will become Spotify’s VP of technology, focused its marketing and advertising platforms.
The company launched less than a year ago and had raised just over $4 million, according to CrunchBase. The deal includes MightyTV’s team of eight, who will be based across Spotify’s New York City, Toronto and Stockholm offices.
Adams, was the co-founder and CEO of AdMeld, an advertising optimization platform for publishers that was acquired by Google in 2011, reportedly for $400 million. He then joined Google to run the Doubleclick Publisher Platform, before leaving to start his own company again in 2015.
MightyTV’s Tinder-style mobile app for iOS and Android let you quickly indicate whether you liked or disliked a given title, which helped customize MightyTV’s suggestions to your own personal tastes. As with Tinder, the idea is that the app’s recommendations would then improve over time, the more you used the product.
Spotify launched programmatic audio globally last summer, allowing advertisers to target audiences based on age, gender, genres, and playlists in real-time.
Spotify has not yet spelled out how it plans to use MightyTV’s tech in its programmatic play, but one option could be that Spotify could create tools for users to help them discover new music, and then use those tools both to collect more interesting data on their users, as well as to serve ads to them using those parameters.
uilding out a bigger marketplace for both labels and artists to sell goods and services beyond basic music would make sense for Spotify. Margins on streaming music are thin-to-negative (something Spotify is trying to change, as we’ve reported). But services like programmatic ads that promote other products presents Spotify as an enabler and platform for a more sustainable streaming music business for everyone, Spotify itself as well as the artists and rightsholders that work with it. (Building out that wider platform and community behind it was also behind several other acquisitions that Spotify has made in the last year, including PreactCord Project and Soundwave, and CrowdAlbum.)

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