[Technology] Sony Music ‘has signed a licensing deal with SoundCloud’

The streaming music service is planning on launching a paid subscription plan, and a source close to the situation said the deals SoundCloud struck with the majors does allow it to build a full on-demand service similar to Spotify or Apple Music.

SoundCloud had already struck deals with Warner Music Group, Universal Music Group, and Merlin, a network of independent labels; Sony Music was the last holdout. But getting a deal done with Sony Music has been a bit more challenging. The label pulled its music off SoundCloud last year, after reports surfaced that Sony Music wasn’t happy with the “lack of monetization opportunities,” according to Billboard.

 

Source: TheVerge

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