SPOTIFY ENDS ACQUISTION DISCUSSIONS WITH SOUNDCLOUD
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SPOTIFY ENDS ACQUISTION DISCUSSIONS WITH SOUNDCLOUD

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Spotify was poised to take over its streaming competitor, with the Financial Times stating in September that the pair were in advanced talks to finalise the deal. However, TechCrunch has since reported that a source at the company revealed that Spotify’s plans to open for public trading in the new year would make the acquisition overly complicated.

 

While Spotify is now a major business worldwide, Soundcloud itself is yet to become profitable, although its recent introduction of a subscription model has seen its profit margin increase by 43 percent. Both of the companies are yet to publicly comment on the state of the deal, but a merger between the two would surely have a major impact over the ways in which people consume music.