Twitter and SoundCloud marry after all + The Open Music Initiative
With the recent news of Microsoft acquiring Linkedin dominating the press, another deal has been inked also worthy of discussion: Twitter has invested $70M in music streaming service SoundCloud, notably two years after having walked away from a $1B purchase offer. How the strategic partnership will play out is unclear. In other streaming related news, YouTube, Spotify, SoundCloud, Pandora, Netflix, major labels and many other key players have announced a new open-sourced platform around creative rights called the Open Music Initiative (O.M.I.) that aims to streamline the way online royalties are tracked and paid, improving how rights owners are identified and compensated for digital music.