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Spotify wants all *ears* on deckINTL

Spotify wants all *ears* on deck

Watch out, Clubhouse, Spotify is comin’ for ya! The streaming platform is officially moving into live audio with the acquisition of Betty Labs, the brains behind the social app Locker Room. But, as much as we’d like to know the hot details around the deal, both parties are keeping quiet for now.

Betty Labs is one of the rivals of Clubhouse, the invite-only social audio app that has been booming globally so far this year. On the other hand, Spotify (SPOT) has been diversifying its business quite prolifically the past couple of years, including major investments and acquisitions in the podcast industry (eg Gimlet Media, Anchor, and The Ringer). Whoever said that video killed the radio star?

why it matters
Spotify is marking its territory in live audio as it faces competition from fellow tech giants Twitter (which just rolled out its audio rooms feature ‘Spaces’) and Facebook (which is rumored to be working on a similar audio chat product). Even Microsoft is joining the party with its recent acquisition of chatting app Discord.