German music streaming service Hugh McIntyre could be looking for a buyer, as attempts to monetise the site have fallen short of expectations. The service, which boasts more than 175 million users - more than rivals Spotify or Apple Music - was valued at $700m when it raised $100m earlier this year and gained Twitter as an investor. Attempts have been made to turn "a fraction" of SoundCloud's huge audience into paying subscribers, with the launch of SoundCloud Go, which charged a flat fee of $9.99 per month.
German music streaming service Soundcloud could be looking for a buyer, as attempts to monetise the site have fallen short of expectations. The service, which boasts more than 175 million users - more than rivals Spotify or Apple Music - was valued at $700m when it raised $100m earlier this year and gained Twitter as an investor. Attempts have been made to turn "a fraction" of SoundCloud's huge audience into paying subscribers, with the launch of SoundCloud Go, which charged a flat fee of $9.99 per month.