SoundCloud close to finalising major label deals - report

Coral Williamson

SoundCloud is said to be close to deals with Universal Music Group, Sony Music Entertainment and Warner Music Group for licensing rights to continue hosting songs.

The Berlin-based company has more than 250 million users per month and is keen to avoid potential legal disputes, according to sources familiar with the discussions. The platform is said to be offering each label a 3-5% stake with a percentage of future revenue.

If a deal is reached, SoundCloud would be valued at ...

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