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SoundCloud Is Going Legit: In Talks With 3 Major Recording Labels

SoundCloud Is Going Legit: In Talks With 3 Major Recording Labels

 
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SoundCloud is making a move to become a higher level streaming music service with a new agreement with the three major recording labels. They want to license music from Universal Music Group, Sony Music Entertainment and Warner Music Group; but the major labels are pit bulls when it comes to negotiating over copyrights. They'll offer a steep price to license their music -- or offer to take what's known as an equity stake in the music site -- financialspeak for taking ownership in some of the business in exchange for lower or no licensing costs.

 


Bloomberg is reporting that SoundCloud is offering 3 - 5 % of their business and possibly an undefined sum of future revenue in exchange for licensing music from the three recording labels.

 
Tags: Music Tech News, Digital Music News, Music News, SoundCloud
     
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