Twitter weighs online music acquisitions

Hannah Kuchler, Arash Massoudi and Tim Bradshaw

Twitter has considered buying online music services including Soundcloud and Spotify in recent months—a move that suggests it is willing to attempt its largest acquisition to secure new sources of growth.

The online messaging platform has weighed up deals worth billions of dollars as it seeks to add a music service to its offering, according to three people familiar with the matter.

Twitter has been trying to boost the amount of time people spend on its app, after coming under fire from Wall Street for slowing user growth. Its shares have almost halved in value in the year to date, as investors worry that the social network would get stuck at just a fifth the size of Facebook.