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Original post Wednesday, December 10, 2014 by Nina Ulloa
SoundCloud recently entered into a licensing deal with Warner Music Group (WMG), but they haven’t reached an agreement with Sony or UMG. WMG will buy three to five percent of SoundCloud; equity stakes are likely part of the other major label negotiations as well.
These licensing talks are part of a wider SoundCloud strategy to provide payouts to artists and labels — a strategy major labels have been pushing. SoundCloud is slowly moving toward a paid subscription model that would allow users to listen to ad-free music.
+T-Mobile Excludes SoundCloud, Google Play, Xbox Music from Monthly Data Limits
SoundCloud is now trying to raise more money to carry out this strategy, reports the Wall Street Journal.
They are reportedly in talks to raise $150 million, bringing their valuation to over $1.2 billion.SoundCloud has hired investment bank Allen & Company to oversee the round.
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