SoundCloud is buying rights management and distribution company Repost Network.
The streaming service has announced it has entered into a definitive agreement to acquire the firm, which will allow it to offer creators additional tools and services including streaming distribution, analytics dashboards and content protection.
“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 chief operating officer Michael Weissman.
"SoundCloud’s focus is to build more tools and services to solve those needs. 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 deal expected to be closed in the coming weeks, Repost Network's co-founder and chief executive officer Jeff Ponchick welcomed a closer relationship with SoundCloud.
"Repost Network has been working with SoundCloud since the early days of its monetisation initiative, and we are ecstatic to join the world's largest audio creator community," he explained.
“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 terms of the deal have not been disclosed, but it will be seen by many as another sign that SoundCloud is bouncing back after its financial problems in 2017.
Earlier this year SoundCloud added a new distribution feature to its SoundCloud Premier toolset.
