SoundCloud continues to increase its global revenue , and push back against previous losses
In its last filed accounts the Berlin-based music streaming music service is showing more than $100 million in revenue (according to a UK Companies House )
In the year ending December 31st, 2017 the service posted global revenue of €90.7 million , or 102 million US dollars, an increase of 80% over 2016 where the company generated approx $53 million US dollars
However SoundCloud continues to lose money, although it did cut operating losses by 27% from 2016, €70.5 million , down to to €51.4 million YE dec 31st 2017
The companies financial position has greatly improved, and it has reportedly achieved positive operating cash flow in several months during 2018.
SoundCloud executives highlighted two key initiatives the on which it has now focused…
“First, to continue growing our core creator business by building and marketing the best software tools for creators to upload, share, and promote their content, helping them to grow their careers.
“Second, to build a differentiated listening and consumption experience for SoundCloud’s young, trendsetting, global music fans who want to be on the pulse of what’s new and next in music.”
Sundcloud subscription revenue has also risen 89% over 2016 (€38.4 million to €72.6 million), While their advertising revenue also grew 53% to €18.1 million YE 31st Dec 2017
SoundCloud has surpassed its full-year 2018 growth plan, according to a company spokesperson.