Soundcloud Strikes Licensing Deal with Universal Music Group
SoundCloud is inching closer to launching its own paid subscription service.
Universal Music Group has just signed a multi-year licensing deal with SoundCloud that will make way for its enormous catalog of artists to make money from ads delivered to the audio streamer’s 175 million monthly users according to the New York Times. SoundCloud is still in the running to eventually add a paid subscription service, but this will only work if they’re able to cut a deal with the world’s second largest label group, Sony Music Entertainment and Sony/ATV Music Publishing. As it stands, SoundCloud has completed deals with Merlin, Warner Music Group, and the National Music Publishers Association. Stay tuned.
