The Swedish streaming music giant could become even more powerful.
The streaming music wars continue. In Spotify's latest move to battle rival Apple Music, the streamer is in "advanced talks" to buy Soundcloud according to the Financial Times (via Stereogum). The move would bring Soundcloud's huge user base of 200 million to Spotify.
Soundcloud, which allows any user — from the local musician to the major label star — to upload audio to the web, has been in financial straits lately. The online streaming service lost $70 million over the last two years, according to Consequence of Sound.
Considering Spotify's own financial difficulties, it's unclear whether this deal will go through. If it does, though, the acquisition could mean big changes for the music industry. After all, it's one of the primary platforms that musicians and websites (including this one) use to post music online.
We'll keep you updated.
