Yes the title you read is not a rumor anymore, SoundCloud is slowly dying. The Berlin based Swedish music sharing company has recently has shed a huge swathe of its workforce by closing offices in San Fransisco and also in London. They had just involved new hires some of those who had been working under SoundCloud about for a week.
As we heard from TechCrunch, the company only has enough money to keep it afloat until Q4. But anyone can guess what happens after that.
Many of us are or used to use this great music sharing site, it has offered a huge platform to the music lovers and individual musicians and we are grateful to it, and we at least hope that it will survive. People can share anything to their interest like rap or self-created music, rock and can share their work to the other side of the world.
This site is loved by the rap community and it is a home to a thriving echo system hip hop producers and MCs. journalist Jon Caramanica attributed
“SoundCloud has meant a new ecosystem of rising stars, who ascend quicker than ever — releasing songs that get millions of listens, booking nationwide tours, selling merchandise — without traditional gatekeepers.”
If a miracle happens then it is absolutely possible that SoundCloud will get some extra funding so this will lengthen their cash runway, and they will get some time to figure out their business strategy. This is hard to imagine that SoundCloud has never made a profit during its ten years of existence. Spotify another music oriented streaming service is also struggling to make enough money. In the end, we all hope that they will be able to find the most effective business strategy and lengthen SoundCloud’s existence.