Published
Wed, Sep 28, 2016, 21:28
- The report comes from The Financial Times.
Spotify is reportedly in negotiations to buy SoundCloud.
The Financial Times broke the news earlier today, claiming that the Swedish streaming giant was in "advanced talks" to buy SoundCloud. The news follows investment in SoundCloud from Twitter and the previously reported news that the music sharing platform was seeking a $1 billion sale. SoundCloud had recently launched its own paid subscription service amid ongoing attempts to monetize.
The move comes in the middle of a battle between Spotify and Apple Music for dominance of the streaming sector. Spotify boasts 40 million paid subscribers, while Apple Music has around 17 million.