In 2014 Soundcloud lost around $43.9 million and everyone in the music streaming industry thought it was lights out. However, since the addition of Soundcloud Go, Soundcloud has reached a milestone that few could believe possible. According to Digital Music News, Soundcloud advanced its revenue by 43% and has gathered revenue adding up to a total of nearly $27,919,665. Currently it is valued at around seven million bucks and has received funding of around $204.5 million according to Edmtunes.com.
This could explain the reasoning behind why Spotify is looking to buy out Soundcloud. In a recent article that was posted here within EDM Chicago, Spotify acquired 40 million subscribers while Apple music only hit 17 million. Currently, Soundcloud is receiving funding of around $204.5 million and is valued at $700 million and according to a report by Bloomberg, Spotify might be considering a Billion dollar buy-out offer. Billion. With a capital B. Keep those peepers open for a switch up in the Soundcloud website, as we all know an update can happen over night.
