Twitter in talks to buy online music firm SoundCloud - FT

Thu Jun 5, 2014 3:51pm IST

The Twitter logo is pictured at its headquarters on Market Street in San Francisco, California April 29, 2014. REUTERS/Robert Galbraith/Files

The Twitter logo is pictured at its headquarters on Market Street in San Francisco, California April 29, 2014.

Credit: Reuters/Robert Galbraith/Files

Related Topics

Stocks

   

REUTERS - Microblogging platform Twitter Inc has been in talks with Berlin-based audio sharing website SoundCloud in its efforts to add a music service to its offering, the Financial Times reported citing people familiar with the matter.

Twitter has weighed up deals worth billions of dollars and has also considered buying music-streaming service Spotify and internet-radio provider Pandora Media Inc, the newspaper. (r.reuters.com/heh89v)

SoundCloud is a platform that enables people to upload, record, promote and share their music and other audio files.

The company has aggressively expanded its capabilities to carry multimedia content. Last year, it acquired "We Are Hunted," a three-person music streaming-startup from Australia.

SoundCloud declined to comment on the deal while Twitter did not immediately respond to an email seeking comment outside regular U.S. business hours.

Twitter's renewed interest in music-streaming companies comes after Apple Inc acquired Beats, the headphones and music-streaming firm founded by Jimmy Iovine and Dr. Dre, for $3 billion.

The Beats deal was seen as Apple's effort to jumpstart an uneven attempt to make headway in music streaming, the fastest-growing segment of the market, as iTunes sales decline.

Pandora Media and Spotify have raced ahead while Apple's eight-month-old iTunes Radio has not made much of a dent.

(Reporting by Ankush Sharma in Bangalore; Editing by Gopakumar Warrier and Joyjeet Das)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Healthcare Corruption

REUTERS SHOWCASE

Short of Expectations

Short of Expectations

Apple revenue lags Street's view despite strong China growth  Full Article 

Mircosoft Results

Mircosoft Results

Microsoft revenue rises, profit falls as Nokia absorbed  Full Article 

Deal Talk

Deal Talk

Exclusive - Lupin, U.S. firms weigh bids for GSK's mature drugs: sources  Full Article 

Relief For Sahara

Relief For Sahara

Supreme Court could allow Sahara boss to conduct asset sale talks, company says.  Full Article 

Classifying Banks

Classifying Banks

RBI to start announcing too-big-to-fail banks in Aug 2015  Full Article 

Food Scandal

Food Scandal

Starbucks, Burger King dragged in as China food scandal spreads.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage