SoundCloud has entered a definitive agreement to acquire rights management and distribution company Repost Network, the companies announced Thursday (May 23).
The purchase of Repost is seen as a complement to the streaming platform's SoundCloud Premier direct monetization program and distribution tool, which allows artists to distribute their music to all the major streaming services and receive payouts directly through SoundCloud.
“There are more than 20 million audio creators on SoundCloud, and we know building audiences and earning income from streaming are critical to them,” said SoundCloud COO Michael Weissman in a statement. “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. 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.”
With the acquisition, SoundCloud says it will provide artists with a “seamless upstream” to Repost’s tools and services, which include distribution, analytics dashboards, content protection and more.
"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," added Repost Network co-founder and CEO Jeff Ponchick. “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. Terms have not been disclosed.