Soundcloud Strikes Licensing Deal With Universal Music Group

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According to the New York Times, it looks like Universal Music Group and Soundcloud have just closed a multi-year licensing deal that will open the door for Soundcloud's ginormous catalog of independent music artists to make revenue from advertising. Soundcloud is still working toward a paid subscription service, however a second deal has to be made with the planets second largest label, Sony Music Entertainment and Sony/ATV Music Publishing. To sum up Soundcloud's current progress, the deals that they've accomplished thus far is with the likes of Merlin, Warner Music Group and the National Music Publishers Association. More updates will be revealed as time progresses.

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Source:HYPETRAK