SoundCloud in trouble?

Jordin Agemy, Feature Reporter

The audio-based service app known as “Soundcloud” has been struggling financially as they have lost a reported $70.3 million in profit during 2013 and 2014 combined. The company’s struggles may be a bad sign for any entrepreneur who uses this service either to create podcasts or market their music.

In 2014, SoundCloud launched a partnership program with artists who wished to sell their music downloads from the app itself. Since SoundCloud’s launch in Berlin in 2007, people have used it to record, share and promote a variety of different audio content. If the company were to fail, it would limit the way people can stream music, seeing as though there are no other platforms like this that are widely known.

The SoundCloud app allows people from all over the world to record and publish podcasts, music, and any other audio with a simple touch of a button. Many radio stations and other businesses use this to reach potential clients, customers, etc. Musical artists can use this app to create a fan base and share their music world wide.
Other widely-known music streaming services like Spotify and Pandora do have options for independent musicians to share their songs. YouTube has also proven to be a powerful tool for musicians, though the format for sharing is completely different.

Recently, SoundCloud has put up ads on the app, giving users the ability to make a purchase that would take away all adds shown. The app, and company, has also started trying to pay back royalties to artists before any music gets pulled from the platform. The question now is, what does the future of SoundCloud hold? It is thought by some that it may have to buy out other small music platforms in order to stay around for much longer. This financial problem has been going on for quite a while but is thought to clear up over the coming years.

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