SoundCloud strikes a major licensing deal with Universal Music Group
SoundCloud and Universal Music Group have shaken hands and both walked away happy in a new licensing deal that will offer the streaming service the ability to play the label's catalog, with UMG deriving advertising revenue from each stream. It sounds like a win, win, win for Soundcloud, Universal and the artists themselves.
"One of the core components of our relationship with the industry is a new push within the deals that will enable the monetization of user-generated content like remixes and mashups," SoundCloud's Chief Content Officer, Stephen Bryant, told Billboard.
"We've created a very unique ecosystem. Through these deals we have the right incentives in place." Bryant is hoping that SoundCloud can launch a subscription tier before the second quarter of the year.
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