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SoundCloud Confirms Licensing Deal with Warner Music Group

Buzz 11:55AM EDT

After posting a $29 million loss in 2013, there was a real sense of urgency that something had to give at Swedish music streaming service SoundCloud to create a sustainable revenue stream that would not only pay artists and labels, but also get them out of the red. It appears it is on the road to do that after the announcement that it finally penned the back-and-forth deal with Warner Music Group. The deal marks the first of the three majors to sign with a licensing deal with SoundCloud, which has reportedly been close to signing with the three majors in the past. But after those deals fell through and the recent posting of its 2013 losses, things started to look grim for SoundCloud and its ability to monetize its massive user base.READ MORE

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