Soundcloud is one of the largest audio platforms available on digital medium today. Founded as a start-up in 2007 by two music lovers who felt that collaborating and connecting with music artists globally was a big issue and this platform could ideally help music artists to grow. What started off as a platform for sharing content and collaborations among artists turned into a platform where artists could distribute their music and collaborations to monetize their channel. This platform which allowed users to send, receive and distribute tracks and playlists soon became a hit.
This platform allowed new artists to upload and distribute music and, in many cases, buy SoundCloud plays helped in kickstarting the music careers of many which would not have been possible in the conventional set ups. The impact was so huge that the popularity of the platform which opened doors to anyone led to the first tranche of 2.50-million-euro investment from investors. The platform registered millions of users over the next few years though there were occasional hurdles from the more established music brands such as Sony.
Soundcloud monetized its platform in 2016 with Soundcloud Go to overcome losses and to survive else it would have shut down in face of stiff competition from Spotify and apple. With strategic management changes the company clawed its way back since the past three years have been giving strong financial performances. With around 200 million tracks from 20 million odd music creators and spread over 190 countries, Soundcloud has become a force to reckon with.
Future outlook of Digital music platforms
Though consumers prefer to use free music services even if it is peppered with advertisements, paid subscriptions are on the rise as it allows many additional features to the users. Soundcloud and Spotify users are using more paid services with an average ranging from 80 minutes to two and a half hours per visit by users.
With an astonishing 350+ downloads of music singles in the USA alone in 2019, there is huge potential for future growth considering that SoundCloud has achieved its highest global revenues exceeding 200 million USD.
Promoting on Soundcloud
Promoting other artists playlists and tracks on one’s own channel helps an artist reach out to more audience than what he would have achieved if he uploaded his music individually. Soundcloud promotional playlists are genre specific. These accounts are different from other labels as they do not distribute to traditional music stores. Most of the new artists start with a particular genre and then branch out to more through additional accounts and promotional networks. This allows them to leverage each other through reposts or direct upload through Soundcloud messages to the creators.
Many service providers allow new artists with tools for reposting allowing them to come together and build a large fan base. This mechanics is awesome and helps to boost organically Soundcloud plays, increase likes and comments and also promotes music for free. SoundCloud promotion services allows real growth where an artist found that his or her music mix showing an increase of more than 50% increase in followers.