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Music |

Cash-Strapped SoundCloud Confirm Paid Subscription Service

Monday 27 July 2015

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Words Ailis Mara

Today SoundCloud confirmed a two-tier subscription service planned to come into effect next year. Reports of the new subscription model have been floating around since a leaked email from the company appeared in the media and is certain to draw criticisms from customers used to a free service.

The Swedish streaming giants are supposedly running “dangerously low on cash” after an anonymous insider told Digital Music News that the company was “at risk of exhausting readily-available funds and will likely require an ’emergency bridge,’ either from existing investors like Union Square Ventures, or alternatively, a bank, by the end of this year.”

So it seems as though we’re on the verge of a radically redefined SoundCloud service as they attempt to muscle in on the cash-flow being tapped into by the likes of TIDAL, Apple Music and Spotify.