It seems as though a few of the top music streaming and purchasing platforms are having a bit of difficulty lately, and Soundcloud is the most recent to report issues.
With almost $84 million in losses over the past three years, in contrast to bringing in a bit over $41 million in that same time span, Soundcloud is seemingly headed for disaster.
The massive streaming service isn’t ready to give up yet, however. With plans in motion to introduce paid subscription accounts (we can assume these accounts would have added benefits, just like the Pro accounts), perhaps Soundcloud can raise itself back up.
One glaring problem that many point to is that their employees are paid quite well, at about $77K a year. I’m no economist, but that seems like it may add up when combined with the fact that in 2014, Soundcloud’s essential expenditures (including employees, of course), grew by a substantial $69.09 million. Ouch.
If the company wants to stay afloat, perhaps cutting back on wages would be a good start, in addition to the other plans they’re going to start rolling out.
Let’s just hope they can stay on their feet long enough to get this sorted.