In September of this year, it was believed that the streaming service, Spotify was to takeover Soundcloud, which had just reported a loss of $70 million. 

The loss occurred in only two years under the company’s new directors, to which the directors stated, “There are material uncertainties facing the business.”

Soundcloud, unlike Spotify, offers a much more accessible service to unsigned bands and lesser-known artists.

However, the losses made by the company, seemed to be enough to turn off any sort of business deal the company had hoped of making.

Citing a Spotify source “familiar with discussions,” TechCrunch now reports that the popular streaming service has dropped its bid to acquire SoundCloud.

It is believe that Spotify feels that the company “doesn’t need an additional licensing headache in a potential IPO year.”

Potential investors for Spotify are optimistic that an IPO may come at some point in 2017.

Ahead of talks for the deal, in 2014 it was believed that whilst Soundcloud may have had a turn over of €17m, it had accrued a loss of around €39m.

Though that was the case for Soundcloud, at the time of the deal’s beginning, Spotify had just announced that it had gained 40m paying subscribers, compared to Apple Music’s then 17m.

Whilst all of this has been going on, Apple Music has just announced that the service has attracted 20m paid subscribers in only 18 months.

Whilst Apple Music has come under fire for offering exclusive promotions, the streaming service’s boss, Eddy Cue, disagrees with the criticisms.

Cue said: “I don’t think exclusives or promotions are anything new,” he continued: “They were done in the record business, they were done on iTunes, now they’re being done on streaming.”

Cue noted that Apple has hosted over 60 exclusives this year, some of which topped the Billboard charts, including Drizzy’s album, Views From The Six.

Here’s a video that we chose to put in the article because it has the most views so it must be good, right?