Spotify has today (March 27) announced its second purchase in under a month with the acquisition of MightyTV, a content-matching service that has been dubbed “Tinder for TV”. The move also brings its MightyTV chief executive and adtech veteran Brian Adams within its ranks, as the music-streaming service continues to rollout its data-led offering to advertisers.
Financial details of the deal were not disclosed publicly, with Spotify vice president of product Jason Richman claiming the content recommendation ecosystem MightyTV, a company that has raised $4.25m since the launch of its app last year.
The purchase plus hire of Adams would bolster its efforts to roll out programmatic advertising services, as well as boost its own marketing technology platform.
“Brian and his team will help us continue to innovate on free monetization and extend our leadership position in programmatic audio,” he added.
The pair have yet to release full details of the integration of the MightyTV team into the Spotify-fold, although the company leadership have confirmed it will be moved to Spotify’s offices in New York City, Toronto and Stockholm.
Adams is a serial entrepreneur having cofounded Admeld in 2007 before its eventual $400m sale to Google in 2011, a move that then saw him move to the online behemoth to run its DoubleClick Publisher Platform before leaving to found MightyTV in 2015.
Earlier this month, Spotify announced the purchase of audio recognition service Sonalytic, with the recent spate of acquisitions aimed at augmenting its proposition to advertisers.
Speaking recently at an industry event, Spotify's advertising chief Marco chief Marco Bertozzi said his company would pose a lucrative alternative to the online advertising industry's walled gardens.