SoundCloud is an online audio distribution platform and a music sharing website which is based in Berlin, Germany. The website enables users to promote, upload, and share the audio files. Alexander Ljung and Eric Wahlforss started the company in the year 2007, and today it has grown to become one of the largest music streaming company. It has been able to reach the milestone of more than 175 million monthly users worldwide.
Maybe you know about SoundCloud very well, but do you know what brand’s net worth in 2024 is? If you do not know, we have prepared this article about details of SoundCloud’s net worth and more facts. Well, if you’re ready, let’s start.
Inception
The company was established in the country Berlin in the year 2007 by a Swedish sound designer named Alexander Ljung and the electronic musician named Eric Wahlforss. The website was later launched in October 2008. The original motive of the website was to allow the musicians to collaborate with the help of sharing and discussion of the recordings.
Still, later the site was transformed into a publishing tool for the music distribution. The website soon began challenging one of the most used website MySpace, and it also received a 2.5 million Euros Series A funding from the Doughty Hanson Technology Ventures in the year 2009. In 2010 the company announced that it had gained over 1 million users, and it was reported that the company raised over US$10 million Series B Funding in January 2011.
Recently the company Sirius XM announced a 75 million dollar investment in the company, and SoundCloud also bought the artist distribution platform that goes by the name Repost Network.
Evolution
The company announced its new program known as “On Soundcloud” in August 2014, and it allowed its premier partners to monetize their content through the pre-roll audio ads, mobile ads, channel sponsorships, and the native content. The company later announced a deal with many content partners, which included Comedy Central and Funny or Died and also with many YouTube channels.
Soon it was reported that the company might be able to raise over $150 million in its new financing, and it would result in a valuation of more than $1 billion of company. By December 2014, the company had then shared the ad revenue with over 60 other premier partners, and there were some concerns over the amount of revenue of the program, and this led Sony Music Entertainment to pull the plug of its content from SoundCloud service.
In 2015, the company announced that they would make a deal with Merlin Network, which represents over 20,000 independent record labels, and the deal was to be able to monetize their content through the SoundCloud’s premier partner program.
The primary critical features of this include the ability to access the uploaded files using custom unique URLs and thus allowing the sound files to be embedded easily in Twitter and Facebook. You can embed the music file by clicking on a share button, which corresponds to the site you want to share. This is a significant upgrade over MySpace that doesn’t support the reshare buttons.
If you are a registered user, then you can listen to unlimited audio, and you can also upload 180 minutes of audio files on your profile without any cost. The app also distributes the music using apps and widgets. Users can easily place the widget on their blogs and websites, and then the company would easily tweet every track which is uploaded.
Awards & Achievements
Most of the achievements include its artists like Billie Eilish and XXXTentacion, who have won many awards for themselves. The company has been able to raise over $700 million brand value all over these years, and many users regularly use it.
Net Worth of SoundCloud in 2024
As of April 2024, the brand value of SoundCloud is estimated to be around $800 million, and it has been increasing continuously. The company has been receiving a significant amount of funding, and recently it received a $75 million from SiriusXM. The company has been able to receive this amount of funding from other companies too, and this has contributed significantly to its net worth.
SoundCloud is one of the significant music sharing platforms, and it has been able to contribute significantly to the music industry. Today many of the artists exist due to this fantastic music platform. SoundCloud is a platform that brings professionalism to every music artist in the world. The platform makes it sure that every individual gets what he or she deserves.