• by Karlene Lukovitz  @KLmarketdaily, March 31, 2021

As part of its push into live audio, Spotify has acquired Betty Labs, a sports-focused tech company behind live social audio app Locker Room.

Betty Labs launched Locker Room last October with $9.3 million in seed funding led by Alphabet Inc.’s GV venture capital unit, as Clubhouse and other audio chatrooms took off amid the pandemic.   

Spotify said it will expand Locker Room to attract a wider range of creators and fans by offering a range of sports, music and cultural programming, as well as interactive features that let creators connect with audiences in real time. The app will invite professional athletes, writers, musicians, songwriters and podcasters worldwide to host real-time discussions, debates, and “ask-me-anything” (AMA) sessions.

“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,” stated Gustav Söderström, Spotify’s chief research and development officer. “This new live audio experience is a powerful complement that will enhance and extend the on-demand experience we provide today.” 

Betty Labs was initially backed by Lightspeed Venture Partners, prior to the infusion from GV, along with Precursor Ventures.

In other audio media news, music video network Vevo has been integrated into Strata, FreeWheel’s cross-media platform for campaign planning, activation, optimization and financial management.

Spot buyers looking to augment linear TV buys can now use the platform to access Vevo inventory for local markets.

Vevo reaches about half of the U.S. population, with two-thirds of viewers in the 18-to-49 age segment—more of than half of whom identify themselves as “light” TV viewers, according to Vevo.

“Harder-to-reach audiences, such as younger or multicultural audiences, find our content highly engaging, which helps boost brand recall,” said Nicholas Simonetti, director, U.S. local ad sales, Vevo.