SPOTIFY REPORTEDLY IN TALKS TO ACQUIRE SOUNDCLOUD
Both companies refuse to comment...
Swedish streaming giant Spotify is in "advanced talks" to purchase DIY rival SoundCloud, according to a report in The Financial Times.
The Berlin company's future has been in serious doubt over the past year or so, following copyright issues and an attempt to launch a paid subscription service which has so far only pulled in a few hundred thousand users.
Earlier this year, Twitter even made a $70 million investment in SoundCloud, however a few weeks later the company was looking to sell for $1 billion. It now looks like Spotify will be the buyer, although both companies have refused to comment on the deal.
Recent figures show that the Swedish company now has 40 million paying subscribers (with 10 million joining in the last five months alone), whereas its nearest rival, Apple Music, is at 17 million (a rise of four million over the same period).
