Techcrunch has reported from insider information that Soundcloud will last at a maximum of 50 days before going entirely bankrupt. This report comes after news of the company downsizing by closing offices in London and San Francisco and subsequently firing 40% of their staff.
Soundcloud Set To Evaporate
The report from an anonymous source also stated that many employees have started to quit as they see the inevitable end coming fast. Company founders were found in a leak to be discussing how they can get to Q4 of the calendar year, which starts on September 1st. They are also looking into investors to help keep the company running beyond the 50 day mark.
Back Up Your Music NOW
If/When Soundcloud goes down it will take the internet's largest collection of independent music with it. That will just disappear over night. So with that being said, do not be dumb. If you have music on Soundcloud you need to back it up today. It should not be the only place to store music. Back up whatever you can and get the tracks out on Spotify or other streaming platforms. This is sad news as currently Soundcloud has almost 100 million more active users that Spotify – but due to a weak financial model, and a poor roll out of a membership service, the company will soon cease to exist.