Three years ago, Soundcloud®, the music site that relies on user generated content, was struggling.
The site was searching to establish its identity. Was it the YouTube® of the music industry? Or was it MySpace®, about to be crushed by the Spotify®?
The company wasn’t generating profits, and laid off 200 employees while it tried to gain its footing.
Fast forward 3 years.
The company has established itself as a place for emerging musicians to get discovered (Post Malone, Chance the Rapper and Billie
Eilish were all unsigned artists who got their start on SoundCloud).
While still not profitable, the financial health of the company is in much better shape, with more listeners, artists, and ad sales. SoundCloud is establishing itself as more of a social media experience, rather than just a music streamer like Spotify or Apple Music.
“What we’re really focused on is a differentiated experience that allows those emerging musicians to connect with their fans,” said the CEO.
Our take: Three years ago, the future of SoundCloud was in doubt. But now, SoundCloud should be a major part of your band’s marketing, and a place where you can make more intimate connections with your fans.
New features like chat, and allowing users to leave comments their favorite tracks, will help your band gain a following.
Set up a SoundCloud account today. What are you waiting for?