{"id":98143,"date":"2024-01-08T13:00:00","date_gmt":"2024-01-08T13:00:00","guid":{"rendered":"https:\/\/routenote.com\/blog\/?p=98143"},"modified":"2025-01-10T14:53:29","modified_gmt":"2025-01-10T14:53:29","slug":"soundcloud-prepare-to-sell-for-potentially-1-billion","status":"publish","type":"post","link":"https:\/\/routenote.com\/blog\/soundcloud-prepare-to-sell-for-potentially-1-billion\/","title":{"rendered":"SoundCloud prepare to sell for potentially $1 billion"},"content":{"rendered":"\n

The world’s top community-led music platform are reportedly preparing to sell this year for what could be in the billions.<\/span><\/h2>\n\n\n\n

SoundCloud, one of the world’s leading music streaming services and a favourite for independent artists, is gearing up for a sale. That’s according to a report from Sky News<\/a>. <\/p>\n\n\n\n

In their news article, Sky reports that they have learned of two investment banks readying a potential auction of SoundCloud. The American Raine Group and Singaporean state investment fund Temasek Holdings have been interviewing investment banks for a prospective auction later this year. <\/p>\n\n\n\n

The sale follows the success of SoundCloud’s new chief executive Eliah Seton. Seton took over last year, following the platforms struggle to turn a profit after years of attempting to monetise their business model. <\/p>\n\n\n\n

The platform is famously free for musicians to upload to and for listeners to use. This has helped build a userbase of millions, however following investment from Raine and Temasek in 2017<\/a> the business was on the brink of collapse, needing to monetise it’s services rapidly.<\/p>\n\n\n\n

SoundCloud begun launching subscription services for both listeners and artists to enhance their offerings and create new revenue streams. With Seton taking the helm last year, the company cut 8% of it’s workforce<\/a> to enhance profitability. <\/p>\n\n\n\n

In December 2023, SoundCloud projected annual revenues of \u20ac288 million, up 7.% year on year. Music Business Worldwide revealed<\/a> that SoundCloud was set to reach it’s first year of annual profitability 16 years since it launched, in mid-December. <\/p>\n\n\n\n

It would appear that the two investment firms are looking to sell out of their investment whilst the service’s prospects are looking up. It comes at a turbulent time for the music industry, as streaming continues to struggle into profitability and AI poses an existential threat<\/a>. We don’t yet know how interested parties will be, especially with a prospective price tag exceeding $1 billion. <\/p>\n\n\n\n

A source told Sky that they didn’t expect the sale to begin for months yet to come. <\/p>\n\n\n\n

\n\n\n\n

Artists can monetise their music on SoundCloud for free with RouteNote. Find out how you can upgrade your SoundCloud account at no cost at www.routenote.com.<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

The world’s top community-led music platform are reportedly preparing to sell this year for what could be in the billions.<\/p>\n","protected":false},"author":12,"featured_media":98144,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[2133],"acf":[],"yoast_head":"\nSoundCloud prepare to sell for potentially $1 billion - RouteNote Blog<\/title>\n<meta name=\"description\" content=\"The world's top community-led music platform are reportedly preparing to sell this year for what could be in the billions.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/routenote.com\/blog\/soundcloud-prepare-to-sell-for-potentially-1-billion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SoundCloud prepare to 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