SONY & SOUNDCLOUD TO ENTER LICENSING & EQUITY DEAL

The deal we’ve all been waiting for has finally been done — Sony and SoundCloud have come to a licensing agreement that will allow the platform to stream their music. 

According to Music Business Week, the world’s second largest record company, Sony will not only receive stock in SoundCloud, but has also been invited to participate in the Berlin-based platform’s next funding round. 

The deal follows similar agreements with Warner and Universal over the last few months and will allow SoundCloud to finally launch its subscription service later this year.

[Via MBW]