Music streaming service SoundCloud has struck a licensing deal with UK-based music rights group PRS for Music, settling a lawsuit and in turn clearing an important hurdle on its way to launch a full-fledged music subscription service. Now, the company just has to get other rights holders back to the table.
PRS had sued SoundCloud for copyright infringement in August after negotiations between the two sides about a licensing agreement had broken down. The group, which represents the rights of over 115,000 songwriters, composers and music publishers in the UK, had been negotiating withSoundCloud for five years, according to its CEO Robert Ashcroft. “Many of our members love the SoundCloud service and I greatly appreciate their management’s willingness to work with us in the way they have,” he said in a statement released Monday.
Via Variety
