After countless upsets and mishaps, it seems as though SoundCloud is on their way to once again becoming the streaming giant they deserve to be.
According to financial data provided by PrivCo, Digital Music News has discovered SoundCloud’s massive rebound in 2016 with a gross revenue of $28 million, a 43% increase from last year’s posting, and a stark contrast to the company’s $43.9 million loss in 2014. Even in February of this year, SoundCloud’s financial auditor KPMG issued a harrowing statement regarding the company’s future.
“The directors have concluded that the combination of the circumstances… represents a material uncertainty which may cast significant doubt upon the Company’s and Group’s ability to continue as a going concern… Therefore the Company and Group may be unable to realize its assets and discharge its liabilities in the normal course of business.”
Despite the numerous hiccups since SoundCloud’s began endeavoring towards serious monetization, it appears that the increased advertisements, licensing deals, and tier pricing have begun to show their worth to investors. Especially considering the reported talks of being acquired by Spotify, SoundCloud’s future is shining far brighter than expected.