SoundCloud could be forced to close after losing $44 million

This makes me sad and happy at the same time.  SoundCloud had a great service and allowed users to tag certain parts of a song with comments.  In a way it was Social Media for audio files but lacked any incentive for others to do the same. 

Later I found out that they would charge content providers a monthly fee to host their content with really no recourse for the provider to make any income from it.  Sadly, I prefer the YouTube method, it is ad supported and super annoying but, doesn't cost the content provider anything and they get a cut of the profits. (No wonder people are flocking to get a cut of that)

In a statement given to FACT, SoundCloud said that the figures “reflect those of a company in a strong growth stage,” which still has “over 18 million creators are using the platform, sharing well over 110 million tracks, and reaching 175 million monthly active listeners.”

With that kind of traffic it makes you wonder why they would have to close over a lost 44 million.  It will be interesting to see what happens.

Related Web URL: http://www.factmag.com/2016/02/11/soundcloud-finan...