Spotify announced that it is acquiring Sonantic, a London-based dynamic AI voice platform that creates realistic voices from text, for an undisclosed sum.
Spotify says the company will use Sotantic’s technology to create high-quality experiences for users by building on its existing technical capabilities. The company also noted that it has identified several potential opportunities for text-to-speech capabilities across its platform.
“We’re looking forward to joining Spotify and continuing to build exciting voice experiences,” said Sonantic co-founders Zeena Qureshi and John Flynn in a joint statement. “We believe in the power voice has and its ability to foster a deeper connection with listeners around the world, and we know we can be better than ever on the world’s largest audio platform.”
Last week, Spotify said it expects to reach $100 billion in annual revenue over the next 10 years. The company also forecasts that its podcast biz will become profitable in the next one to two years.
“We’re really excited about the potential to bring Sonantic’s AI voice technology onto the Spotify platform and create new experiences for our users,” says Ziad Sultan, Spotify’s Vice President of Personalization. “This integration will enable us to engage users in a new and even more personalized way.”