WEA Acquires U.K.'s ShareMyPlaylists
October 17, 2014 at 5:13 AM (PT)
U.K.-based SHAREMYPLAYLISTS, which runs SPOTIFY playlists sharing platform PLAYLISTS.NET, has been acquired by WEA for an undisclosed sum.
THENEXTWEB reports, "PLAYLISTS.NET has carved a niche for itself in the online music space, becoming known as the preeminent go-to for those wishing to share and explore SPOTIFY playlists. The user-generated themed-playlists cover anything from year- or decade-specific compendiums, to niche genres and cover versions. Anything goes at PLAYLISTS.NET, and it’s a useful tool for those seeking inspiration ahead of big events, such as weddings, CHRISTMAS parties and so on."
Founder/CEO KIERON DONOGHUE told THE GUARDIAN, “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. 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.”
WEA SVP LARRY MATTERA told the paper that the acquisition will boost PLAYLISTS.NET as an independent site. “KIERON’s success is due to the fact that he is a huge music fan, and has a uniquely creative take on how to engage other music fans. This investment will enable KIERON to expand on his existing formula for success, as well as work to create new music experiences.”