Spotify Buys Subscriber Analytics Specialist Preact

Music streaming service Spotify has acquired a cloud-based firm called Preact, which uses analytics, behavioral science and machine learning techniques to predict consumer behavior around subscription sign-ups and upgrades. Terms of the deal were not disclosed.

Founded in 2012 by Christopher Gooley (pictured), Preact helps companies acquire new subscribers and retain current customers. Using the platform, marketers can identify which customers are likely to churn, renew or upgrade by modeling product usage and behavior patterns. Following the acquisition, the Preact team will be based in Spotify's New York City and San Francisco offices.

Jason Richman, VP Product at Spotify, comments: 'Finding the trends and behavior patterns in our data that correlate with paid subscriptions is incredibly valuable. The addition of Preact to Spotify's team will help us design experiences that grow our premium customer base'.

Web sites: www.spotify.com and www.preact.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.