Music streaming service SoundCloud is rightfully considered one of the leaders in the modern music industry. And this is not surprising, because he can be proud of his huge music library and the huge multimillion-dollar audience, which is made up of active monthly users of this streaming service.
Music platform SoundCloud has teamed up with live streaming platform Twitch to help musicians affected by the coronavirus outbreak. In addition to taking tips from fans on the platform, they can also place ads and product links on their store. For musicians who could lose paid gigs in the coming weeks or even months, the partnership will help musicians and real estate creators generate income from live streaming.
Currently, the offline music entertainment industry is temporarily in decline, but the demand for public entertainment remains. Whether at home or abroad, the music industry is struggling to survive. Bands perform online and musicians live online one by one, opening a new path for the music industry.
SoundCloud continues to operate and evolve in 2022, as it has in all previous years since its inception. The huge competitive advantage of this music streaming service is that its business model integrates a social networking feature that allows artists and music fans to not only communicate with each other, but also rate and comment on the music they listen to.
Fans enjoy connecting with their favorite musicians in a new and intimate way of watching live performances. Many musicians are still at the stage of searching for online streaming platforms, trying to find ways of economic development in troubled times.
After rumors spread in the media about the closure of SoundCloud, the company decided to inform all users that it is not closing its doors. CEO Alex Leung revealed on the service’s blog that “the songs you share or upload to SoundCloud aren’t going anywhere because SoundCloud isn’t going away.”
SoundCloud claims that it has 175 million users a month, but not everyone accepts this information: analysts estimate the real audience of the service at 70 million. The company created a paid plan called SoundCloud Go with no ads and offline playback for $4.99, but it didn’t make much of a fuss. Founded in 2007, it has yet to turn a profit for investors.
SoundCloud doesn’t focus on a full catalog of music artists, but on individual tracks and mashups that you’re unlikely to find anywhere else. It’s different from other streaming services, but it borrows a feature from the competition – automatic playlists customized to your liking.
If you’re a SoundCloud user, the best solution is to back up your account files so you don’t get caught off guard.
But in 2022, along with emergency investments, SoundCloud has undergone a change in direction. The owners of the company are confident and publicly claim that SoundCloud should remain independent, despite the fact that there were already rumors that Spotify and Google would be interested in buying the company, but negotiations have not progressed.