Spotify in Talks to Buy SoundCloud: Report

Spotify is negotiating to buy SoundCloud, the Financial Times reports. Discussions between the two streaming services were “advanced,” according to the FT, which cited “people briefed on the discussions.” Representatives for Spotify and SoundCloud declined to comment to Pitchfork. Spotify has said it has 100 million users worldwide and 40 million subscribers. For comparison, Apple recently said its own rival streaming service has reached 17 million subscribers. Earlier this year, SoundCloud announced a paid subscription service of its own. In July, Bloomberg reported that SoundCloud’s owners were mulling over a $1 billion deal to sell the Berlin-based company. Twitter reportedly invested $70 million in SoundCloud the previous month.

Read our exploration of the music industry’s efforts to boost paid subscriptions, “Is the Era of Free Streaming Music Coming to an End?,” over on the Pitch.

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