SoundCloud signed a licensing deal with Sony Music
The road has been paved for SoundCloud to roll out the launch of their subscription-based service as the streaming company has reportedly signed a licensing deal with Sony Music, giving it deals with all three major labels. The agreement gives SoundCloud access to Sony Music artists including Beyoncé, The Weeknd, Future, Bruce Springsteen, Miguel, and Justin Timberlake, while Sony will get equity from the deal.
After the label pulled its music off SoundCloud last year, (after reports surfaced that Sony Music wasn't happy with the monetization opportunities, or lack there of,) they finally ended their holdout, after SoundCloud struck deals with Warner Music Group, Universal Music Group, and Merlin, (a network of independent labels.) But now, the real problem lies in figuring out how to monetize the service without alienating its 175 million users who use it for free.
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