Within the last couple years, Twitter has made a concerted effort to get into the music streaming game. Although it acquired We Are Hunted and launched its Twitter Music service last year, the app didn’t make it to its first birthday before the company discontinued the service in April. But the company is perhaps once again gearing up for music, with an even bigger acquisition.
A report from Recode Monday, citing “sources familiar” with the situation, said that the company is considering a deal to buy SoundCloud — a music sharing platform popular with indie artists and DJs. The report didn’t speculate on the potential cost of the move.
SoundCloud has grown steadily since its launch in 2007 — the company has roughly 250 million users and closed $60 Million Series D in January (bringing the total funding the company has made to $123.3 million).
But it’s not just its success that could catch Twitter’s attention: A study in March showed that SoundCloud was the top among all music streaming sites for link referrals on Twitter. In bringing the company under its umbrella, Twitter has the opportunity to not only curate but host music in a similar way that Vine currently does with video. However, it also means that Twitter would have to enter the murky world of copyright music licensing in a way it doesn’t have to with its other properties.
Recode says that both companies have declined to comment.