In January, popular streaming website SoundCloud “obtained $60 million of new funding,” in an attempt to become the “YouTube of audio,” but according to RainNews, the new direction may have gotten the company in some trouble.
According to the online publication, “Recently, SoundCloud endured some negative PR swirl when a report surfaced that Universal Music Group had been granted direct access to remove infringing tracks from SoundCloud. The report was disputed by some, but SoundCloud’s public statement did not exactly deny it.”
However, apparently Bloomberg business is now “citing unnamed sources in a report that SoundCloud is near to closing deals with record labels for their content to appear on the popular crowdsourced listening platform.”
According to RainNews, “acquiring performance licenses from labels would free SoundCloud to deploy broader content and potentially attract a wider audience.” Be sure to read the entire article, including logistics, statistics, and potential outcomes of the move, here, and keep your eyes peeled to MSC for the latest!