NY Post

Spotify in Talks to Acquire a Rival as Streaming Music Sector Heats Up

Sep 29, 2016  •  Post A Comment

Music streamer Spotify, which is looking to take itself public as early as next year, is said to be in “advanced talks” to buy rival site SoundCloud, The New York Post reports.

“The acquisition by the Sweden-based Spotify could bolster its standing as the world’s biggest streaming service,” the story reports. “Earlier this month, Spotify said it had 40 million paying subscribers, up sharply from 30 million in March — and well ahead of the 17 million subscribers Apple Music had reported a week earlier.”

The sector appears to be heating up, with iHeartMedia readying a paid streaming service, soon after Pandora launched a new, $5-a-month option.

“The music streaming sector could get further crowded by Amazon, which is rumored to be launching a stand-alone service of its own in early 2017 that could get paired with Echo, its sleeper-hit home speaker,” the report adds.

Recent reports indicated SoundCloud was seeking to sell itself for more than $1 billion.

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