Spotify said it has machine learning experts focused on improving audio search for nearly a decade, but there’s more work to do.
With podcasts making a splash around the world, Swedish music streaming company Spotify has acquired a startup called Podz for an undisclosed amount. Spotify said it acquired Podz, a small, talented team of entrepreneurs, engineers and designers, to help make the experience even better.
Powered by cutting-edge machine learning technology, Podz creates high-quality clips that give users the opportunity to preview key moments from podcast episodes, encouraging them to discover and listen to new podcasts.
This capability, combined with Spotify’s 2.6 million podcasts on the platform, said the company in a statement. Learning from our work in music discovery and current investments in podcast recommendation, will take podcast discovery to the next level.”
Podz recently raised $2.5 million in pre-seed funding, and celebrities such as Katie Couric and Paris Hilton are among the investors. Spotify said it has machine learning experts focused on improving audio search for nearly a decade, but there’s more work to do.
“We believe Podz’s technology will complement and accelerate Spotify’s focused efforts to drive discovery, deliver the right content to listeners at the right time, and accelerate category growth around the world,” the company said.
The company now plans to integrate Podz’s technology into the Spotify experience, and listeners should start seeing elements of that work before the end of the year. Spotify has also launched its live audio clubhouse rival Greenroom.
Let us know that more and more companies are now investing in podcast streaming. Apple Podcasts subscriptions now allow creators to host bonus content and ad-free versions of their shows in exchange for a monthly subscription. Apple Podcasts subscriptions are now available to listeners in over 170 countries and territories.
According to reports, Facebook is planning to roll out its podcast product on June 22. The social media network is also likely to add a new feature that will allow listeners to create clips from their favorite shows.
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