Will SoundCloud Survive?

Posted at February 10th, 2016 | by Shivani Goel | in

SoundCloud has been making news recently with their financial troubles and their new ranking feature. Now SoundCloud has promised to create a paid music service, where they pay more to artists that draw millions of users to the website. Unfortunately, this has to be launched the same time as incurring a loss of $56.5 Million.

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“Our overhead base has increased faster than our revenues,” admits SoundCloud. “After making inquiries, the Directors have concluded that they have a reasonable expectation that the Group will have adequate resources to continue in operational existence for the forseeable future, however, the Directors have concluded that there are material uncertainties facing the business.”

They’ll be in loss for at least 3 more years. It’s not uncommon for such businesses to operate in a loss for a few years, and SoundCloud has managed to sign deals with a few indie labels and even Universal Music Group. Hopefully they’ll manage to turn around and maybe even provide additional revenue.

Shivani Goel

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