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SoundCloud and Sony Deal Reportedly Struck

A deal between the streaming service and the major label may allow Soundcloud to implement a much-needed subscription service.
Image courtesy of Soundcloud

After almost a year of deliberations, the major label Sony Music may have reached a deal with SoundCloud to allow its content onto the streaming service, according to Music Business Worldwide.

According to the industry publication, which cites unnamed "watertight sources" the deal would allow Sony to "not only receive stock in Soundcloud but also participate in the Berlin-based platform's next funding round."

Neither company has confirmed the deal.

The reports of a SoundCloud and Sony deal come afterApple Music announced yesterday that the company has signed a deal with digital music distributor Dubset to allow mixes and remixes to be played on iTunes. A deal between the major labels and SoundCloud could see the return of mixes to its streams, which have slowly been removed and uploaded to other platforms such as Mixcloud.