Key Takeaways

  • SoundCloud has acquired Nina Protocol, a decentralized music platform.
  • The acquisition follows Nina’s shutdown earlier this year.
  • SoundCloud aims to enhance support for independent artists.
  • No Nina employees will join SoundCloud as part of the deal.

Acquisition Details

SoundCloud announced its acquisition of Nina Protocol, a decentralized music platform that allowed independent artists to sell their music directly to fans while retaining all their revenue. The financial terms of the acquisition have not been disclosed.

Expansion of Services

This marks SoundCloud’s first acquisition since it purchased AI music company Musiio in 2022, a move aimed at improving music discovery. The acquisition of Nina Protocol indicates SoundCloud’s intention to broaden its platform beyond just music hosting, focusing on providing more resources for independent artists.

Preserving Nina’s Legacy

As part of the acquisition, SoundCloud will gain access to Nina’s editorial archive and genre map. This will help preserve Nina’s extensive collection of music journalism and cultural commentary, allowing SoundCloud to promote emerging artists and music scenes to a wider audience.

Impact on Workforce

A SoundCloud spokesperson confirmed that the acquisition will not affect its current workforce, and no employees from Nina Protocol will be joining SoundCloud as part of this transaction.

Statements from Leadership

SoundCloud CEO Eliah Seton expressed admiration for Nina Protocol’s commitment to independent artists, stating, “Nina Protocol built an incredible platform by putting independent artists, scenes, and communities first. Our priority is to honor what they’ve created while carrying that mission forward.” He emphasized the goal of helping artists build stronger relationships with fans and access tools for sustainable careers.

Nina Protocol’s Background

Nina Protocol, founded in 2021 by musicians Jack Callahan, Mike Pollard, and Eric Farber, provided artists with a way to manage their own digital storefronts without relying on traditional streaming services. The platform utilized the Solana blockchain for efficient transactions and Arweave for permanent decentralized storage of music files.

Support for Artists

In light of the acquisition, SoundCloud is offering a migration tool for Nina Protocol artists to transfer their work to its platform. Additionally, these artists will receive a complimentary SoundCloud Artist subscription through the end of the year, which includes monetization features and tools for audience growth.