Live & Touring

SoundCloud Finally Has Multiple Interested Buyers (And None Of Them Are Spotify)

SoundCloud_logoFacing financial difficulties, SoundCloud has actively been seeking a buyer for months. Even after dropping the asking price from $1 billion to $700,000 or less, reported interested from Spotify and others faded. Now come new reports that multiple suitors are actively eying the streamer.

______________________________________________

Several major players are actively looking at an acquisition of SoundCloud, sources tell the New York Post, and one is the clear frontrunner.

Deezer

Apple, Google and KKR, who recently offered to invest $250 million in Pandora, are said to be kicking the tires. But France-based music streamer Deezer is said to be showing the most interest. Deezer is owned by billionaire Len Blavatnik’s Access Industries, which also won Warner Music Group. They clearly have the funds, and acquiring Deezer's unique global user base and millions of creator upload tracks and mixes unavailable elsewhere, would transform Deezer from an also-ran streamer into a unique and formidable competitor to Spotify, Apple Music and perhaps even YouTube.

“Deezer is making a serious run,” a senior music source  familiar with the talks told The Post. “There will be a lot of consolidation, if you are Deezer or Spotify. SoundCloud’s massive user base — one that is melting as it grapples with a shrinking pile of cash — lets you convert,” into a serious.

One source does add Spotify to the list, but it is hard to see how the music streamer would want to add so much red to its already bleeding balance sheet, particularly pre-IPO.

 Related articles

Prince Pulls Music Off All Streaming Services Except TIDAL, Soundcloud
College Students ARE Willing To Pay For Streaming Music [SURVEY RESULTS]
Spotify Revenue Up 54% In 2016, As Yearly Losses Grow A Staggering 133% To $600 Million – hypebot
Key SoundCloud Exec Stephen Boyd Is Headed To YouTube – hypebot
Prince – Who Pulled All His Music Off Streaming Services – Debuts New Song On Spotify….
Key SoundCloud Exec Stephen Bryan Exits – hypebot
Any Artist Can Now Upload Mixes To Beatport, But They'll Earn Just 5-10% Of Revenue
Prince Heirs' Battle Over Vault Begins As Universal Seeks $31 Million Refund
Apple's latest move shows streaming is the main way we listen to music (AAPL)
Universal Music Sues Prince Estate to Void Contract

Share on: