British startup Playlists.net, which aggregates and recommends playlists created on streaming music service Spotify, has been acquired by Warner Music Group’s WEA label. The major label snapped up the company, which currently has a collection of 150k playlists and attracts 1m unique monthly visitors, for an undisclosed amount. “We were approached by WEA earlier in the year to discuss ways in which we could collaborate and it became apparent that there was much to be gained by us joining forces,” said Playlists.net CEO Kieron Donoghue. “What’s really exciting is that WEA have committed to support Playlists.net as an independent platform, invest in its future and grow the team to take advantage of new opportunities in the streaming ecosystem.” The news isn’t a huge surprise: in July, tech news site TechCrunch reported that Playlists.net was “in talks with a number of ‘prominent music industry companies’ with one potential suitor currently in the lead”. Playlists.net has also been forging its reputation as an expert in playlist-based marketing at exactly the point when the area was shooting up the priorities list for major labels. WEA could thus be a good match.
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