Twitter to add its voice to the Soundcloud?
The social networking rage-fest has been looking into buying up Soundcloud, which is interesting, seeing as Twitter and music doesn't seem to have much of a good history. Remember Twitter Music? Of course you don't. No-one does.
Soundcloud has gradually become the place for music types to upload their tunes, share mixes and long been a mainstay of music promotion in general. It also has a whopping 250 million active users.
So while it seems that Soundcloud has been getting on without Twitter fairly well, Twitter may be thinking of using it for ads to monetize the service. Which sounds slightly ominous for the music-demo set.
Interestingly, Soundcloud has taken on $60 million worth of funding to develop an advertising strategy.
SoundCloud could also benefit by utilizing Twitter’s resources to secure big licensing contracts with major music labels, which is something the service has previously been unable to do.
But hey, Soundcloud ain't going for a song. The company's last valuation was estimated at $700 million, so Twitter will have to get its funds together to top that.
TOPICS: Social Media