According to a report by the Financial Times, Spotify is now in advanced talks to acquire SoundCloud after rumours about a supposed buyout for SoundCloud have been swirling for some time now. Both Spotify and SoundCloud have declined to comment at this point in time per Variety.
This news comes following another rumour that Spotify was looking for a new buyer at $1 billion valuation which makes Spotify’s involvement all the more interesting.
As the global leader in paid streaming, Spotify has quickly become a household name in the music/tech industry and beyond with its cheap service, ease of use, and its huge library. SoundCloud on the other hand, has always been more of a forum for emerging producers and musicians to upload tracks without the need of a paid distributor as is the case with Spotify.