News - 03/04/2018

SoundCloud claims it surpassed $100m of revenues in 2017

SoundCloud claims it surpassed $100m of revenues in 2017

SoundCloud CEO Kerry Trainor talked to the Financial Times about what he says is a corporate comeback for the streaming service, following its troubles of 2017.

He said that SoundCloud’s revenues in 2017 surpassed the goal of $100m, with its user base growing in each of the last three quarters after a sluggish few years before that.

Trainor also added that SoundCloud has “significantly reduced the burn” (of cash) including recording a few "cash flow positive months" recently.

The article also stresses that SoundCloud’s subscription tier is not the strategic priority for the company that it once was:

After being pressured to build its own subscription product, Mr Trainor says SoundCloud has switched gears an is no longer trying to mimic Spotify. Instead, the company wants to focus on its original market among the creators of music.

Current estimates – for example from Midia Research in the piece – suggest SoundCloud has around 100,000 paying subscribers.

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