Electronic-music firm Beatport is getting its wallet out again for an acquisition. It is buying LabelRadar, a service that gets artists to upload their demos in the hope of being signed by labels. It will now sit within Beatport’s fast-growing music services division alongside other subsidiaries including Ampsuite (acquired this February), Hype and LabelBase.
There’s a sense of pieces falling into place in a bigger picture here, with Beatport’s expansion of its music services matching the strategy we’re seeing from companies as diverse as SoundCloud and Utopia Music, albeit with varying customer segments in focus.
LabelRadar gives Beatport a bigger funnel for unsigned artists to enter its ecosystem, and with the two companies having already worked together on remix contests, the hope will be that the post-acquisition settling-in process will be smooth.
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