News - 13/04/2018

SoundCloud losses increased to $74.5m in 2016

SoundCloud losses increased to $74.5m in 2016

SoundCloud justpublished its financial results for 2016 through Companies House in the UK. The figures show that the company’s revenues grew by an impressive 88.9% to €50.3m that year (around $62m) but its net loss grew by 45.4% to €74.5m ($91.8m) in 2016.

The report also breaks down SoundCloud’s revenues from subscriptions and advertising – "subscriptions" here also includes creators paying for pro features to upload their content. In 2016, SoundCloud made €38.4m from subscriptions and €11.9m from advertising. What’s more, 69.3% of the company’s revenues came from the US, according to the results.

SoundCloud averaged 296 employees in 2016 – just one more than 2015 – with total staff costs of €38.6m once salaries, share-based payments, social security and other pension costs are factored in.

2016 feels like a long time ago now, given SoundCloud’s eventful 2017 during which former Vimeo boss Kerry Trainor became CEO. Trainor recently talked about how that year went financially for SoundCloud, saying that the company surpassed its revenue goal of $100m in 2017.

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