Music-streaming service SoundCloud have announced that they’ve paid out $1 million (£650,000) to musicians, artists and labels since August 2014.
Posting on their official website, the Berlin-based company wrote of the news: “It’s been six months since we launched the On SoundCloud partner program, and it feels like a good time to look back at how far we’ve come.”
“Since the launch last August, things have been growing fast. We’ve signed up over 100 Premier Partners and paid over $1 million in advertising revenue to partners including labels, audio partners and emerging artists.”
The post continues: “What’s coming up? We got started with On SoundCloud in the US, but we’re aiming to begin bringing it to new territories later this year — stay tuned. We’ll also continue to add more Premier Partners as we go. We’re looking forward to the next steps of the On SoundCloud journey — and to having you along for the ride.”
Late last year, SoundCloud announced that they were to launch a subscription-based service in early 2015, as well as the new creative project ‘On SoundCloud’.
“We’re thrilled that Warner Music Group will be the first major label to join our new creator partner program,” SoundCloud’s founder & CEO Alexander Ljung said at the time. “We expect to generate significant revenue for Warner and its artists in the months and years ahead as we roll out an ad-supported offering and subscription service that delivers real value to the industry.”
“The landmark partnership will create new commercial and promotional possibilities for WMG’s roster of established and emerging recording artists as well as songwriters signed to WMG’s music publishing arm, Warner/Chappell Music. Further, the deal includes innovative licensing terms that will provide WMG and its artists greater ability to manage the availability of content, while providing a path towards delivering additional revenue from user-generated mixes and mash-ups of WMG music.”
Meanwhile, SoundCloud recently revealed losses of £18 million for 2013. A statement read: “We are in a phase of growing SoundCloud into the market-leading platform for listening to, creating and sharing sound. This has necessitated investment in technology, headcount and marketing. Our overhead base has increased faster than our revenues.” [NME]
