Rhapsody has purchased two music tech companies today: Schematic Labs, the makers of SoundTracking, and music discovery startup Ex.fm
VentureBeat reported on Rhapsody's acquisition of Ex.fm, which cataloged what songs online listeners tuned in to and then used that data for personalized recommendations. Ex.fm decided to shut down its service late last year, reversed that decision, and then once again announced it would be shuttering its services in May. The financial details of the acquisition were undisclosed.
"By teaming up, we can build the ultimate music service with an amazing social discovery engine backed by Rhapsody’s catalog of over 30 million songs," Ex.fm said in a statement.
It's unclear what the startup's role will be with Rhapsody, but VentureBeat postulates that it "seems likely that they’ll end up working on some aspect of the newly launched digital radio service UnRadio on T-Mobile."
A few hours after the Ex.fm development came to light, Schematic Labs revealed that it had been acquired by Rhapsody. In a blog post, makers of social music app SoundTracking reassured users that the service would "continue to offer the ability to share the soundtrack to your life" while also promising it was "busy cooking up exciting new features to take advantage of Rhapsody’s 30-million track global streaming catalog."
Both acquisitions come in the wake of Rhapsody's recent announcement that it now has over 2 million subscribers for its premium music services. The company seeks to build on its recent success with the new additions, while building UnRadio's capabilities.
The purchases appear to strengthen Rhapsody's position in a fragmented digital music marketplace led by Pandora, Spotify and iHeartRadio.