The Strange Logic of SoundCloud's Deal With Warner Music

Photograph by Ole Spata/picture-alliance/dpa/AP Images

SoundCloud’s 175 million users dwarf Pandora’s 76 million and Spotify’s 40 million. But unlike those digital music rivals, SoundCloud had done practically nothing to turn those legions of users into a real business. Now that’s starting to change with its first-ever major label deal, announced on Tuesday, with Warner Music Group.

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