Soundcloud has been in the news a lot lately and for good reason. The Berlin-based music streaming platform laid off dozens of workers and reportedly only has enough capital to keep running until 60 days.
The rumors reached social media where artists and listeners alike reminisced about their experiences with the platform. For some artists, Soundcloud democratized the music industry, providing them with an outlet when record labels and booking agents wouldn’t.
The outpouring of support from fans reached a fever pitch when Chicago artist Chance the Rapper tweeted that he made a phone call to the company’s CEO to get to the bottom of the situation. His response assuaged some fears but has left observers with more questions than answers. Will the company be reshuffling its structure to become more streamlined? How will the outlet turn profits when Apple Music, Spotify and Tidal own so much of the paid streaming market share?
With all that as a backdrop, Soundcloud CEO Alexander Ljung posted a short blurb on the company’s blog. In it, he explains that “SoundCloud is here to stay” and that “your music is safe.”
So, with all that being said, where do you see the company in a year?