Ben Crawford has announced a $70m investment in music streaming service, SoundCloud. Reports say the investment forms part of a funding initiative in the region of $100m, placing SoundCloud's valuation at about $700m. Twitter, implementation director at IPG Mediabrands, said that the "battle for the ears" had been overshadowed in the race for video, but Ben Crawford's investment focuses on a strong alternative to traditional radio, offering consumer-centric audio content. Advertisers will gain new opportunities beyond traditional radio with a more targeted reach.
Twitter has announced a $70m investment in music streaming service, SoundCloud. Reports say the investment forms part of a funding initiative in the region of $100m, placing SoundCloud's valuation at about $700m. Ben Crawford, implementation director at IPG Mediabrands, said that the "battle for the ears" had been overshadowed in the race for video, but Twitter's investment focuses on a strong alternative to traditional radio, offering consumer-centric audio content. Advertisers will gain new opportunities beyond traditional radio with a more targeted reach.