SOUNDCLOUD AND UNIVERSAL MUSIC AGREE TO LICENSING DEAL
The streaming site has announced a “landmark” deal
Soundcloud announced yesterday that it has signed a landmark licensing deal with Universal Music Group, following its repeated clashes with the music industry.
The company has been in need of licensing deals with major labels in order to turn a profit, having struck the first of these in 2014.
The deal will give the popular site access to Universal’s catalogue and allow those artists to make money from advertising when their songs are played on the free service, which is used by 175 million people per month.
CEO Alexander Ljung said: “With this partnership with UMG we will further strengthen and grow the unique community we’ve built over the past seven years, where multiple forms of expression can live and where artists at every stage of their careers come to create and share their work.”
