Published
Fri, Mar 18, 2016, 10:25
- Following partnerships with Universal and Warner Music, the streaming site now has agreements in place with the three major labels.
SoundCloud has struck a licensing agreement with Sony Music Entertainment.
Yesterday, Music Business Worldwide reported that the deal would see Sony's music licensed to appear on SoundCloud, with the label also taking equity in the online streaming service. The agreement comes after extended and at times fraught negotiations—Sony pulled music from some of its artists from SoundCloud in May of 2015.
The deal would mean SoundCloud has partnerships in place with all three major labels, following agreements with Universal and Warner Music. MBM reports that the deal would pave the way for SoundCloud to launch its planned subscription service. A claim later confirmed by the Berlin-based company in a press release detailing the accord.
SoundCloud says the new agreement "supports SoundCloud’s continued investment in monetization, which includes an advertising platform launched in August 2014, and the introduction of subscription services in the US and other markets later this year." The company's founder and CEO, Alexander Ljung, went on to say "Today is of particular significance to us as a company, as the addition of SME means we now have deals in place with all of the major music labels."