Google reportedly considering purchase of SoundCloud
A report has also revealed that major labels Sony, Universal and Warner have stakes in the streaming platform.
Google might be in the running to purchase SoundCloud.
The Berlin-based streaming platform, amidst efforts to monetize its service, has been courting buyers. Spotify and Twitter (the latter now owns a stake in the company) were among the rumored purchasers who have since turned away. Now, according to Music Business Worldwide, Google is the latest company to consider buying SoundCloud, for around half the $1 billion price tag that SoundCloud originally floated. The report also revealed that major labels Sony, Universal and Warner—some of which had pulled music from the platform before reaching agreements—have ownership stakes in SoundCloud.
RA has reached out to SoundCloud, who declined to comment.
The Berlin-based streaming platform, amidst efforts to monetize its service, has been courting buyers. Spotify and Twitter (the latter now owns a stake in the company) were among the rumored purchasers who have since turned away. Now, according to Music Business Worldwide, Google is the latest company to consider buying SoundCloud, for around half the $1 billion price tag that SoundCloud originally floated. The report also revealed that major labels Sony, Universal and Warner—some of which had pulled music from the platform before reaching agreements—have ownership stakes in SoundCloud.
RA has reached out to SoundCloud, who declined to comment.
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