Spotify Could Soon Own SoundCloud

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Spotify Could Soon Own SoundCloud

It appears Spotify could be buying SoundCloud.

Although spokespeople from both groups declined to comment, the Financial Times reports an announcement of the acquisition could be made soon.

SoundCloud launched their paid service called Soundcloud Go back in March but it hasn’t been massively successful. The Berlin based streaming service has been struggling to find ways to monetize the platform. SoundCloud has a much larger catalogue than any other music streaming service because of its direct uploading that attracts so many emerging artists and DJ mix sets.

The acquisition could offer emerging artists easier access to Spotify listeners but surely SoundCloud will have to make some concessions to record labels claiming rights to tracks.

(via Variety)

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