With more music streaming services entering the market, such as Apple Music which has the resources, experience, and connections of Apple, it isn’t surprising that some of the smaller music services that were around before are having a hard time trying to compete. SoundCloud is a great example, where we’ve heard that the company has been trying to sell itself.
However it seems that SoundCloud could be getting close, according to a report from Bloomberg in which their sources have revealed that the company is close to selling its stakes to a pair of private equity firms. This is expected to help SoundCloud raise some money to help them continue operating into the future, although exactly how long for remains to be seen, and whether or not it will help is also a different story.
Their sources claim that the two firms are expected to hold a majority stake in SoundCloud, but note that while the talks are in the advanced stages, they could still fall apart. We have heard rumors that Google had at some point in time considered acquiring the company, but it seems that is no longer the case.
SoundCloud has recently tried to introduce a subscription feature in a bid to compete against other streaming services as well as a means to pull in revenue. While their subscription is cheaper than regular streaming services, SoundCloud is typically viewed as a platform catered more towards indie music lovers rather than those seeking mainstream music.