Back in April, a study was released that claimed the market for music downloads had been taken over by a market for music streaming, and it looks like social media giant Twitter has caught on to the trend, as Recode has reported that Twitter may be looking to purchase the streaming platform SoundCloud. Often compared to the likes of Spotify, Pandora, iTunes Radio and more, Berlin-based SoundCloud describes itself as the "YouTube of Audio," allowing any user to upload music, regardless of whether it's their own creation or not. With 250 million active users by October of last year, it's definitely one of the biggest streaming platforms within the market, and its ties with Twitter are already quite prominent.
The two are already linked in several ways. Twitter’s users frequently pass along SoundCloud links in their messages; earlier this year, a survey found that Twitter users share SoundCloud links more than any other music service, including Spotify.
This isn't the first time Twitter has considered a crossover in to the online music industry, however, as these reports follow the launch and demise of its Twitter Music app - a service that did not receive enough of a positive response and was eventually axed in March.
Full report: Recode.