Spotify Reportedly In “Advanced Talks” To Acquire SoundCloud
29 September 2016
Spotify is currently the world’s largest streaming service with over 40 million paid subscribers (more than double Apple Music's 17 million). Despite a user base allegedly of over 200 million+ members, Soundcloud has publically struggling to stay afloat over the last couple years. Even launching their own paid subscription service SoundCloud Go earlier in March this year (which according to Forbes has unlikely accrued even one million paying subscribers so far) doesn’t really seem to have helped things.
Briefly, a lot of publications seem to agree that even if the rumors are false, an acquisition makes plenty of sense.
Financial Times also reports that Spotify has been showing interst in an acquisition ever since SoundCloud raised $100 million from a group of investors (including Twitter) back in June. Apparently, those talks fell apart due to an asking price that was too high but it appears now that they've have reignited.
Neither Spotify or SoundCloud have made comment on the situation at time of writing, but we’ll keep you updated on any further developments.