Soundcloud to launch subscription service with Warner Music Group
Warner is the first major label to make a deal.
Earlier this year, Soundcloud reportedly offered equity to the major labels in exchange for a promise not to sue over copyright, and it appears that Warner Music Group is the first to take them up on it.
A deal between the streaming giant and WMG covers Soundcloud’s ad-supported “On Soundcloud” program and a subscription streaming service that will launch in 2015. According to a press release, the deal will help artists earn revenue from “user-generated mixes and mash-ups.”