Spotify is in talks to buy SoundCloud
The Financial Times have reported that streaming giant Spotify is in talks to purchase the newly monetised SoundCloud. The two streaming services are said to be in “advanced” stages of discussion.
The revelation follows the recent news that SoundCloud were seeking a $1billion sale and comes at a time when Spotify faces stiff competition from rivals Apple Music who have amassed around 17 million followers to Spotify’s 40 million.
Neither Spotify or SoundCloud have made comment on the situation at time of writing but we’ll keep you updated when we know more.