A massive development in the streaming world is in process as it’s been revealed that Spotify are looking to acquire Soundcloud.
With Spotify continuing to make their dominance of the realm evident after announcing that their paid subscribers has risen to over 40 million earlier this month, it now appears that previously quashed speculation regarding the company’s interest in purchasing the unique platform of Soundcloud have been resumed.
With the longstanding music service always looking to widen the gap between themselves and closest competitors Apple Music (17 million subscribers) ahead of the company’s planned move to go public next year, the talks are now said to be at an advanced stage with the Swedish based giant set to acquire Soundcloud’s thriving community of independent users and tracks that can’t be found anywhere else.
An important platform for burgeoning musicians and artists, Soundcloud recently launched their own paid listening service after being free to use as a streaming service for the entirety of its existence.
Analyst Rich Greenfield with BTIG Research has clarified Spotify’s position in regards to this proposed move:
“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. The next question will be, is Pandora going to be left out and forgotten.”
