Popular music streaming website, Soundcloud, plans to take their free service a step further and include a special subscription service, which allows customers to store tracks on their devices for offline listening. Labels will be able to decide whether to make their music available on SoundCloud’s free service, its subscription tier or both. Spotify’s past unwillingness to allow such a choice led to its infamous dispute with Taylor Swift, who removed all her music from Spotify as a result. Although this subscription will only be available in the US, it was revealed that it will soon reach several other countries globally once striking the right deal.
- long-planned subscription service, but for now the $9.99-a-month service will only be available in the US.
- company hopes a mammoth catalogue of more than 125m tracks
- 175 million subscribers
- SoundCloud Go, which will be more expensive on iOS devices at $12.99 a month to factor in Apple’s 30% share of in-app purchases
- SoundCloud’s revenues grew by 54% to €17.4m, but its losses increased by 69% to €39.1m.
- SoundCloud has raised £111m in funding since 2009, including a £24.5m round of debt financing in early 2016.
With people willing to pay a certain amount of money to gain exclusive content, this subscription service seems to be a likely success. With streaming services and illegal downloading being easily available and accessible, it gives a new way for artists to earn revenue for their music.
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