SoundCloud to begin paying more artists
SoundCloud’s fortunes appear to be entering a purple patch, or possible a change for the better. Announcing back in October that their annual revenue was up by over 40% to nearly $28 million, the positive results sourced from their introduction of the premium tier, SoundCloud Go, and a surge in income from advertisements.
Now looking financial stabile, for now, SoundCloud is now committing to grow the proportion it shares with more artists. Currently limiting its revenue sharing program, it only processes payouts to select groups who had been personally invited to participate as partners in the Premier format of the service. Desiring to have full access to all artists on the website, the platform itself will remain exclusive to invitees for the foreseeable future.
However, there are glimpses of hope, and signs of a change in the wind. The company coming out and giving the following statement below:
“Today marks another milestone for our revenue sharing program. Over the past several months, our team has streamlined and further automated the steps and processes to setup creators in our revenue sharing program – enabling us to invite more people, faster. This means a significant and ongoing increase in the number of independent artists invited to make money from the work they share on SoundCloud.
The SoundCloud Go and advertising launches across a number of countries are powering increases in revenues, which in turn allows us to invite more independent creators to the Premier partner program to share revenue. While the Premier program will continue to be invite only for now, our goal to eventually open the program up to everyone who shares their work on SoundCloud hasn’t changed. If you’re interested in becoming a part of the SoundCloud Premier program, click here to let us know.
We’ve rolled out the new processes to a group of creators today. Over the coming months, we look forward to a more widespread rollout where we’ll invite more and more independent creators from around the world to join.”
H/T: Dancing Astronaut