Image courtesy of Soundcloud
As we reported yesterday, SoundCloud and Sony Music Entertainment were rumored to have struck a deal that would allow the major label's artists to be streamed on SoundCloud. Now that deal has been confirmed.The deal allows for all artists on Sony, including its affiliated and distributed labels, to have their music available on SoundCloud. It's a win/win for the streaming giant, that has now struck deals with the big three major labels, including Warner and Universal, allowing the company to move forward with a proposed subscription service that would save it from its recent spate of financial woes."We are pleased to be making content from Sony Music Entertainment available to SoundCloud's large user base of highly-engaged, passionate music fans," said SME's president of Global and US sales, Dennis Kooker in a released statement. "This agreement creates a business framework for the use of Sony Music songs on the SoundCloud platform that meets the needs of our artists and labels, and supports the growth of SoundCloud through its new premium on-demand music tier.""Today is of particular significance to us as a company, as the addition of SME means we now have deals in place with all of the major music labels," said Alexander Ljung, SoundCloud Founder & CEO. "With SME now on board, we continue on our journey building a unique platform, empowering our community of more than 18 million artists at every stage of their careers to share their work and connect with their fans, and enabling listeners to discover and be inspired by new music and audio. We are very excited to be working with SME and cannot wait to see what we can achieve together as we continue to transform the future of music online."With the necessary deals in place, Soundcloud's new subscription service could launch sometime this year, though no date has been confirmed.