Connect with us

Hi, what are you looking for?

EDM News

SoundCloud Reveals $60 Million In Losses for 2014

Despite SoundCloud's recent strides in making deals with record labels, SoundCloud in the past had some huge losses that may have caused the company to go under at one point. As recently reported, SoundCloud went through $56.5 million in losses in 2014 which was quite significant from its losses in 2014 with $29.2 million.

Soundcloud 2014 Financials(€)

SoundCloud's Alexander Ljung responded by saying:

“Our overhead base has increased faster than our revenues. After making inquiries, the Directors have concluded that they have a reasonable expectation that the Group will have adequate resources to continue in operational existence for the foreseeable future. However, the Directors have concluded that there are material uncertainties facing the business. The Group’s business plan shows that further capital investment will be required in the next 12 months to fund the business. “People have alway recognised the massive scale of SoundCloud and the unique amount of creators and creativity [it has]. Everybody knows that all of the future stars are already on SoundCloud today, and people already know that if you are a star today, you are going to use SoundCloud to create a lot of buzz and promotion around new releases.”

 

You May Also Like

#EDM Articles

If you're a fan of weird and heavy bass, then this one is for you. Aadysi brings us into his world with a new...

Deep House

New York artist dzill has been working to master his fresh and rage worthy sound. Stepping into the dance music world, his goal was...

#EDM Articles

Newly announced from German streaming giants SoundCloud is a built-in distribution service to add to their current options for artists. The first company to...

Advertisement

EDM Sauce Guides

Portable Speaker
Best 2 Person Tents

Best Clear Backpacks
Best EDM Outfits
Best Bubble Slides

Artist of the Week

Artist of the Week

What is going on dance music nation? We are so happy to bring you only the BEST in up and coming music, and today...