Spotify Is in Advanced Talks to Buy SoundCloud
This news comes on the heels of Spotify recently reporting some big gains over their biggest competitor, Apple Music. The Swedish music service announced earlier this month that they've reached 40 million subscribers, putting them far ahead of Apple Music, which currently has 17 million subscribers. And that doesn't even include the many users of Spotify's free tier.
Earlier this year, lyric annotation site Genius partnered with Spotify to provide curated "Behind The Lyrics" playlists, upping the ante on Apple's own playlists. On the other hand, Spotify has been sued many times for unpaid royalties. Would the absorption of SoundCloud, a site where tracks are frequently chopped, slopped, remixed and reworked open Spotify up to even more feuds?
SoundCloud attempted to raise stock in their own way earlier this year by launching Soundcloud Go, their own premium version of the service. Launched in March of this year, the select service costing $9.99 per month grants the user access to a larger music catalog, offline streaming capabilities and ad-free listening. The Berlin-based company was also rumored to have entertained a $1 billion deal to sell SoundCloud in July.
Many of today's modern day rappers, from Chance The Rapper to GoldLink to damn near half the 2016 XXL Freshman class owe their initial buzz to the freedom of free sharing on SoundCloud. What will Spotify's buy out of Soundcloud mean for the average Internet MC?
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