Satellite radio giant SiriusXM continues to expand, announcing a $175 million investment for a minority stake in the privately-held open audio platform SoundCloud. The companies didn’t specify th…
, a Sirius subsidiary, that lets advertisers and brands purchase SoundCloud’s U.S. ad inventory directly through Pandora – leveraging its significant direct sales capabilities, targeting data, and audio programmatic platform. SoundCloud and Pandora’s combined U.S. audience offering reaches 100 million-plus unique listeners.
“We admire SoundCloud’s loyal and growing audience, its offering for creators, and its reputation and popularity in global music communities. We believe this is another opportunity to continue creating value for SiriusXM stockholders by investing in expanding digital audio platforms.
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