Spotify Will Not Be Acquiring SoundCloud

[PhilSynowiec]

Three months ago, The Financial Times reported that Spotify was in advanced talks with German-based audio distribution platform SoundCloud for a potential acquisition. TechCrunch reports today that the deal fell through, due to Spotify's impending initial public offering.

The Swedish music streaming giant claim the deal went cold because “it doesn’t need an additional licensing headache in a potential IPO year.” The company also wishes to focus on its plans to expand into China, Russia, and North Korea.

Spotify can currently be found in 60 markets, with over 40 million paid subscribers. Apple Music is currently available in 115 markets, however there are only 20 million paid subscribers.