Spotify Technology has acquired Locker Room founder Betty Labs with the aim of aggressively entering the live audio field with the application that allows sports fans and experts to chat live, where Spotify will run the Locker Room app as a business model separate from its business, as well as add it to its app, and will rename the app in addition to expanding its services to include additional options as well as restricting it to the sports field, but the deal price has not been revealed yet.
It is worth noting that at the moment, live audio broadcasting is booming on the internet, due to the Discord app which is an app for video game players, and the Clubhouse app backed by several of the leading venture capitalists in Silicon Valley.
In a similar vein, Twitter has introduced its rival app called “Spaces” while Facebook is working on a similar app as well.
Spotify seeks to integrate what makes Clubhouse popular – random conversations about a TV show or everyday political conversations – with many services that these applications lack, such as: an area to archive conversations for later reading, Spotify will allow users to publish the live audio broadcast and consider it as a podcast that can be accessed when needed through its application.
As part of Spotify, the Locker Room app will expand to include music programming and editing, giving musicians and podcasters who use the company’s main app room to test live podcasts rather than using the services of competitors. The company’s chief research and development officer, Soderstrom, will oversee the integration process with the Locker Room team.
According to the stock market, Spotify’s shares fell 0.2% to $252.19, and the company’s stock has gained 110% last year, but is suffering from a 20% decline so far this year.