Twitter has made several attempts in the past to be at the center of the digital music scene. Having failed at those attempts, reports now have it that the company is considering the option of buying Soundcloud.
The management at Twitter has long held the belief that given the active presence of music artists, labels and publishers on Twitter and Twitter’s news-breaking, label-announcing nature, the micro-blogging network has a very real opportunity of leveraging this. The company tried this in the past with its own music app, but that didn’t really work out.
Now, Recode reports that Twitter is considering forging a deal with the music sharing service Soundcloud, possibly acquiring it. At this moment, there is no certainty attached with the deal. However, should Twitter eventually decide to turn this possibility into reality, it may be the company’s biggest acquisition yet.
Soundcloud raised $60 million in financing last January and it was valued at $700 million. The startup is notable for hosting content from a rich and diverse array of independent artists and musicians as well as mainstream music. In October 2013, Soundcloud announced that it had 250 million users, a figure that has obviously bumped up since.
The pertinent question to ask here would be whether or not such a deal would make Twitter’s foray into the world of music successful. Soundcloud certainly has the kind of leverage which will allow Twitter to gain direct access to the world of digital music. How Twitter may use this access and hone it later will be the interesting part.
Source: Recode
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