69.6% of SoundCloud’s total revenues in 2018 came from the US, including 63.9% of global subscriptions and 88.8% of ad revenues (The Music Network, 2020).In 2018, advertising revenues were up 37.4% to €24.8 million (approximately $40 million) and constituted 23% of its total revenue (The Music Network, 2020).SoundCloud’s global ‘Listener Business’ generated $111.7 million in 2019 and its global ‘Creator Business’ generated $54 million in the same year (Music Business World, 2020).From a revenue of €24.87 million in 2016, SoundCloud was able to increase it to €81.33 million in 2017 and €107.96 million (approximately $127 million) in 2018 (Statista, 2021).Its revenue was also up 37% year-on-year in 2019 (DJ Mag, 2020).SoundCloud’s revenue exceeded $200 million in the last quarter of 2019.Social media giant, Twitter, and broadcasting company, SiriusXM, have both placed their millions on SoundCloud. Moreover, it also got two more investors to fuel its journey back into the industry. The once-beleaguered company has finally reported its first profitable quarter in 2019 and has also reported an increase in advertising revenue, subscriptions, and a decrease in operating losses. Since receiving its financial injection in 2017, SoundCloud-then led by CEO Kerry Trainor-has posted successive revenue growth. If its growth continues, SoundCloud can end up taking a huge chunk of this market. The global music streaming market is projected to grow to $46.9 billion in 2027. SoundCloud was last valued at $500 million in 2017 (Techcrunch, 2020).
In April 2020, SoundCloud announced a $15 million plan to help musicians amidst the COVID-19 pandemic (EDMTunes, 2020).SoundCloud was able to save itself from bankruptcy in 2017 when it received $169.5 million worth of funding from the New York investment bank Raine Group and Singapore’s sovereign wealth fund Temasek (Techcrunch, 2019).This is followed by the UK (6%), Germany (5%), France (3%), Canada (3%) (Similarweb, 2021). 27% of SoundCloud’s traffic comes from the US.SoundCloud has the most diverse and largest audio catalog among music streaming sites/apps with over 250 million tracks available (EDMTunes, 2020).SoundCloud is the second most searched music streaming platform globally in 2020, generating 13.6 million searches per month on average (SEMrush, 2020).The US is still where SoundCloud receives most of its traffic in 2021. SoundCloud now boasts of over 250 million tracks on its platform. Being one of the very first companies to offer streaming services in 2007, SoundCloud has experienced turbulent times and came close to bankruptcy until it secured almost $170 million worth of funding from the Raine Group and Temasek. However, it wasn’t always easy for the Berlin-based company. In 2020, revenues crossed the $10 billion mark.Īmong the most searched music streaming sites globally, SoundCloud placed second with 13.6 million searches per month on average. Case in point: 83% of revenues in the US music industry came from streaming. To say that the music streaming industry is huge is an understatement.
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