Twitter to Purchase Berlin-Based Audio Sharing Website SoundCloud?

Jun 05, 2014 06:05 PM EDT | Matt Mercuro

Twitter is in talks with Berlin-based audio sharing website SoundCloud in its attempt to add a music service to its offering, according to a report by The Financial Times, citing people familiar with the matter.

The microblogging platform has weighed up deals worth billions of dollars as of late, and has also considered purchasing music-streaming service Spotify and internet-radio provider Pandora, according to the report.

SoundCloud is a service that allows people to record promote, upload and share their music and other audio files.

In 2013, the company purchased "We Are Hunted," a three-person music streaming-startup from Australia to expand its capabilities to carry multimedia content.

Both SoundCloud and Twitter have not yet commented on the deal, according to Reuters.

Other streaming candidates include Rdio and Rhapsody.

Twitter's interest in music-streaming services comes after Apple acquired Beats, the headphone and music-streaming company founded by Dr. Dre and Jimmy Iovine, for $3 billion last week.

"Apple was at the front of that curve, and if that's the reason for the acquisition it would lend credence to the view that maybe they're not ahead of the curve anymore," said Maynard Um, a financial analyst for Wells Fargo, according to The New York Times.

The Beats deal was seen as the iPhone-maker's way of jumpstarting an uneven attempt to make headway in music streaming, which is considered the fastest-growing segment of the market currently, as iTunes sales decline.

Spotify and Pandora Media have performed well lately, while Apple's eight-month-old iTunes Radio has yet to make much of an impact in the market.

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