Categories LATEST

SoundCloud looks to direct licensing of popular artists

Berlin-based streaming music service SoundCloud, which focuses mostly on new and upcoming artists, is looking to break into the premium music industry with a new offer for artists that aims to bypass distributors.

This “premier monetization” move aims to bring the offerings of thousands of artists to SoundCloud while tagging them as professional creators.

According to a statement, SoundCloud aims to either match or outbid the rates offered by rivals such as Spotify, Apple Music and Amazon Music.

SoundCloud has one of the larger global audiences for free, advertising-supported music. However, they have struggled to convert free users into paying listeners. Launching the relatively inexpensive $4.99 a month service called “SoundCloud Go” last year did little to further the cause.

With the Pro program, SoundCloud looks to pay artists (above the age of 18) directly if they get 5,000 plays a month. This is now expected in the US as well as Europe, Canada, Australia, and New Zealand.

However, SoundCloud has specified that only fully-owned music can be offered through the service, i.e., original music for which the creators own all the rights. While this could help the service avoid copyright violations, how effective the move could translate to revenue is to be seen.

Most Popular

Does Unity Software (U) stock has more room to run?

Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a

PepsiCo (PEP): Steady snacking habits amid pandemic drive strong quarter for beverage giant

PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the

Does the virus-driven boom make Electronic Arts (EA) a good investment?

With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top