For the past couple of years, posting theories about the downfall of SoundCloud has been on trend. And after a couple years of questionable business and constant reports of erroneous takedowns, no one could be blamed for thinking the massive streaming platform was on a downward trajectory, despite its seeming “too big to fail” status.
Today, in a filing given to Music Business Worldwide by SoundCloud, the company revealed that “in Q4 2019, the firm’s 12-monthly gross revenue run-rate exceeded $200m for the first time in history.”
Year over year, SoundCloud posted higher revenues and continued loss reductions that it attributes to a variety of factors, including the expansion of its SoundCloud Premier monetization. A smaller staff count also contributed to less in payroll, employing 240 people on average (€25.8m), down from 307 in the prior year (€34.5m).
What does all of this ultimately mean? With over 200 million tracks on the platform, listened to by a combined audience of more than 100 million (after partnering with Pandora as its exclusive U.S. advertising and sales partner), SoundCloud isn’t going anywhere anytime soon.
You can read the full report and analysis on MBW here.
This article was first published on Your EDM. Source: SoundCloud Posts Record Revenue After Years Of Consumer Uncertainty
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