The Swedish streaming giant chop to expand business with a purchase of competitor SoundCloud.
The popular music streaming service our site is in negotiations with German SoundCloud about a possible acquisition. It informs the Financial Times, which CITES internal sources close to the negotiations.
Soundcloud is seeking new strategic opportunities for the company, which is also considered a possible sale. Soundcloud was valued by Bloomberg in July for a sum of approximately one billion u.s. dollars.
The German streaming service is known as a platform for sharing and discovery of music, but went in the spring into the our site precincts by to offer a SoundCloud Go-a direct competitor to the our site business model with music ‘ on demand ‘ against a fixed monthly amount.
Soundcloud today counts 175 million registered users against Our site 500 million. It is 100 million active users at the Swedish streaming-giant.
With the draw will Spotify bring more users into their fold, in a market where several big players are penetrated. Latest big player is Apple, which since the launch of the Apple Music in spring 2015 has obtained 17 million fixed subscribers.
In June, Reuters inform that could also E-commerce specialist Amazon will debuttere with a music streaming solution for the exploding market.
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