SoundCloud, the world’s largest open audio platform, announced today it has entered into a definitive agreement to acquire leading rights management and distribution company, Repost Network. With this acquisition, SoundCloud will be able to provide high-performing, emerging creators a seamless upstream to Repost Network’s invite-only tools and services like streaming distribution, analytics dashboards, content protection and more. The terms of the deal were not disclosed.
“There are more than 20 million audio creators on SoundCloud, and we know building audiences and earning income from streaming are critical to them. SoundCloud’s focus is to build more tools and services to solve those needs. We’ve built the foundation with our SoundCloud Premier program and our recently launched distribution product, and today we are taking another step forward,” said Michael Weissman, Chief Operating Officer, SoundCloud. “The acquisition of Repost Network will meaningfully move SoundCloud forward as we build the most comprehensive set of tools to help creators build their careers. We welcome the Repost Network team to SoundCloud and are excited about what we will build together.”
“Repost Network has been working with SoundCloud since the early days of its monetization initiative, and we are ecstatic to join the world's largest audio creator community,” said Jeff Ponchick, co-founder and Chief Executive Officer, Repost Network. “Our mission is to help artists make a living through their audiences online, and by joining the SoundCloud family we can help even more emerging artists take the next step in their career, earn more revenue and be heard by more fans.”
The deal is expected to close in the coming weeks.