Sonos — a company known for their speakers — is quietly becoming a player in the world of audio content. The company launched Sonos Radio earlier this year and last week investing in the studio that produced Demi Moore's series "Dirty Diana."
The Santa Barbara-based manufacturer along with C Ventures sunk $6.4 million into QCODE, the Los Angeles podcast startup run by a former Creative Artists Agency talent agent. Sonos is taking a page from other tech giants that have been acquiring and investing heavily in small podcast studios.
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Artists behind any of the 50 million-plus tracks featured on Spotify may start to see a new trickle of royalty revenues coming in starting Wednesday. The Swedish company has taken another step to expand its podcast offerings by drawing on its musical roots.
Podcasters using Spotify's podcast-creation tool Anchor, which the company acquired in early 2019, can now include songs from Spotify's extensive library in their podcasts. Just as artists receive royalties on their music streams, so too will they get paid for songs that appear in Spotify podcasts.
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With an ambitious goal to building the Youtube of audio, Los Angeles-based Vurbl announced Monday it has closed its $1.3 million pre-seed round with lead investor AlphaEdison with participation from Halogen Ventures and Ten13. The funds will be used to launch a platform later this year with millions of pieces of audio and podcasts.