Spotify Acquires MightyTV, Taps Founder as Its New VP of Technology
Spotify has acquired New York-based video recommendation startup MightyTV and tapped the company's founder and CEO Brian Adams as its new VP of Technology. In that position, Adams will help the streaming music service with its audio advertising business, among other things. Spotify didn't disclose the terms of the transaction.
MightyTV had built an app that helped users find suggestions for movies and TV shows to watch through a Tinder-like swiping interface. The app was powerd by a recommndation engine, but also used friends and contacts to find new titles to watch. Spotify discontinued the app Monday, and removed it from Google Play and Apple's App Store.
Spotify now wants to use some of those recommendation smarts for its own service - but not necessarily to power music recommendations. "The content recommendation system MightyTV has built is incredibly aligned with how we think about advertising technology and marketing personalization," said Spotify's VP of Product Jason Richman in a statement Monday, hinting instead at plans to use MightyTV's team for better ad targeting.
This focus shouldn't come as a surprise to anyone who has followed the career of MightyTV's founder. Before venturing into video recommendations, Adams co-founded AdMeld, an advertising optimization startup that was acquired by Google for $400 million in 2011.