Sony, SoundCloud Ink Deal That Will Help Launch Streaming Subscription ServicePhoto courtesy of SoundCloud Music News SoundCloud
After several major negotiation breakdowns, Sony Music and SoundCloud have reached an agreement over the label’s artist catalog.
Music fans will now be able to stream hits from artists like Adele and Kesha directly through SoundCloud, a move that both Universal Music Group and Warner Music Group have already carried out. Universal signed an agreement with the music streamer this past January while Warner signed theirs two years ago.
The agreement was made under the stipulation that SoundCloud would eventually execute plans for a paid subscription service, according to The Wall Street Journal. The service was originally supposed to launch in 2015, but the deals with Sony and Universal apparently slowed things down.
The agreement with the final of the three major music labels now makes that next step for the digital music streamer a reality. In a statement released last Friday, SoundCloud shared that it had plans to launch that subscription service “in the US and other markets later this year.”
“Having deals in place with all three major music labels means we can continue to build a unique platform and empower our community of more than 18 million artists to share their work and connect directly with their fans,” SoundCloud said.