Music stream host SoundCloud has become arguably–if not undisputedly–the most reliable company of its time since its inception in 2007. However, new financial reports are exemplifying staggering losses that has left the site’s future in jeopardy.
The German-based SoundCloud writes that in its quest to become “the market leading platform for listening to, creating and sharing sound,” its overhead resulted in the loss of more than $70 million from 2013-2014. In recent months, the company has implemented advertising in between songs and even reached a huge licensing deal with Universal Music in January of this year but the cost of expansion has been dangerously expensive.
Despite the understandable reason for concern, the company appears to be more focused on a potentially glorious future. While speaking to FACT magazine, a SoundCloud rep said that the figures “reflect those of a company in a strong growth stage,” which still has “over 18 million creators are using the platform, sharing well over 110 million tracks, and reaching 175 million monthly active listeners.”
SoundCloud recently also managed to raise $77 million in funding for 2016 that will go toward achieving “positive cash flow.”
But TIDAL was posta be done first lol
Dont be a crack smoker. Tidal comp is Spotify, Apple Music, ITunes, Amazon, etc. Not Soundcloud. Put the crack rock down please good sir.
Crack has been smoked for decades with zero problems. But I must agree Los21 is abusing this drug of choice among so many young black youths. #BlackLivesMatter
You’re wrong. Soundcloud is in comp with other streaming services . They’re acutally getting forced to turn into a streaming service to avoid legal troubles hence the deal with Univeral. It isnt gonna right away though they’re afraid of losing its fanbase.
The picture of back to back single gets me every time. Toronto Blue Jay’s winning back to back world series over Philly.
damn i wish i’d invested a couple mill into this, i think it’d been a super lucrative venture fuckkkkkkk
Why does SoundCloud have commercials for aid users?
PaidPaid users!!
“Music stream host SoundCloud has become arguably–if not undisputedly–the most reliable company of its time since its inception in 2007.” Where do you get ideas like that, where is any evidence to back this up? The article is about the company going under and in the opening line it’s the most undisputed reliable company there is??? You just spew out nonsense without any facts or figures to back up statements. Like when you claimed ’50 Shades of Grey’ saved the publishing industry…wtf, no the fuck it didn’t. Report some statistics and not personal idiotic unfounded opinions
Can’t argue with this statement.