Spotify buys music data company Echo Nest

March 6, 2014 4:11 PM

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Spotify buys music data company Echo Nest

The streaming music service buys a company behind a savvy music-intelligence technology, which will not only power recommendations and playlists for Spotify but also give it a new revenue stream.

Streaming music service Spotify on Thursday announced it has purchased the Echo Nest, a music intelligence company that powers Web radio, recommendations, and playlists for a swath of media firms -- including some Spotify competitors.

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