SoundCloud has experienced a rollercoaster of events, but the music streaming service isn’t going down without a fight… With a new $169.5 million rescue and a new leader, CEO Alex Ljung is stepping back but predicts a “strong, independent future for the company.”
The new funding deal put in place “will ensure a strong, independent future for SoundCloud, funding deeper development and marketing of its core tools used by millions of audio creators,” according to an official statement.
So in other words, SoundCloud lives.
In an exclusive interview, Billboard also spoke with Former Vimeo CEO Kerry Trainor — the man filling the founder’s shoes. Trainor said his experience running Vimeo, a platform for filmmakers to share and monetize videos, will directly help with developing tools for musicians, DJs and other creators to do the same with their work through SoundCloud.
“SoundCloud is the largest open audio platform in the world,” Trainor said. “Millions of creators choose these tools to share their work with the world — that will remain at the focus and center of the company.”
Open artistic expression is exactly what sets SoundCloud apart in the digital music space, according to Trainor. And, he hopes to increase the number of creators that use the SoundCloud Unlimited service by adding even more robust creative options.
Currently the Pro Service costs $7 and the Unlimited plan is priced at $15.
“There is only one SoundCloud. It’s unique. We just closed out the first decade and created a really unique platform that impacts global music every day,” said Ljung. “I’m really excited about the next decade.”
SoundCloud last reported approximately 170 million users.