Spotify did not disclose the terms of the deal.
Betty Labs is the name behind Locker Room, the live audio app that caters to sports fans. Spotify comments that the acquisition will be used to further propel its move to create the “future formats of audio” through “evolving and expanding Locker Room into an enhanced live audio experience for a wider range of creators and fans.”
“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 world already turns to us for music, podcasts, and other unique audio experiences, and this new live audio experience is a powerful complement that will enhance and extend the on-demand experience we provide today.”
Betty Labs first introduced Locker Room in October of 2020, and was initially backed by Lightspeed Venture Partners, and more recently raised $9.3 million in seed funding led GV, Alphabet Inc’s VC arm and saw Precursor Ventures take part.
“With Spotify, we’ll continue to offer the best home for sports fans and use the lessons we’ve learned along the way to create the ultimate destination for live conversation around music and culture.,” comments Betty Labs founder and CEO Howard Akumiah.
Well damn. Sh*t be gettin' HAWT in this space now. We'll keep an eye on the live audio landscape and report back with further developments.