Spotify could buy SoundCloud
Don’t get your heart set on one way of streaming, music listeners.
A music streaming giant is in talks to purchase another, Financial Times reported this week.
Spotify could buy SoundCloud, which has been valued at $700 million.
“Spotify and SoundCloud would, on the face of it, make both strange bedfellows and, possibly, a powerful pairing,” Billboard said.
“The two platforms are very different, in significant ways — Spotify, with its simple interface and focus on relatively casual listeners, and SoundCloud, with a elegant-but-dense set of features and a (truly) labyrinthine catalog of music, heavy on dance, uploaded by its creators.”
Spotify has 40 million subscribers, compared to Apple Music’s rapidly growing count now at 17 million.
“Spotify buying SoundCloud could be a sign they are trying to extend their significant lead in online music, as Apple, Google and Amazon are gearing up to compete more aggressively in music,” Rich Greenfield, analyst with BTIG Research, said. “The next question will be, is Pandora going to be left out and forgotten.”