Sony deal paves way for SoundCloud subscription service
Struggling music streaming site SoundCloud announced the resolution of its spat with Sony Music on Monday, paving the way for the firm to offer a subscription service.
Sony Corporation
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Sony had previously pulled its music from the site after publicly complaining about a lack of opportunities to derive revenue from the streaming.
That led to a year of negotiations, which culminated in a new licensing deal giving SoundCloud access to all of Sony's artists - including subsidiary labels The Orchard and Sony Red.
SoundCloud already offered more than 100 million songs for free, and had existing deals with Warner Music and Universal.
It said it would launch its subscription service later this year, though the company was light on detail.