Soundcloud has set off A LOT of careers, but according to reports that surfaced yesterday, Soundcloud only enough money to last 50 more days before it goes under.
Last week we learned the music streaming company terminated 40% of its workforce, firing 173 of its staff members. That move was to inherently increase overhead and allow for longer longevity from Soundcloud’s end.
But according to sources at Soundcloud who informed TechCrunch on the low, the layoffs only saved the company enough money to have runway “until Q4” — which begins in just 50 days.
You can check out the TechCrunch report here.
But what does that mean to the countless number of labels, artists, collectives and music forces in general who use the platform to break records, network and have barrier-less access to their fans? How does this potential change the music landscape?
Well first lets see if this bitch really goes under, as we’re wishing Soundcloud the best, but in the meantime their’s nothing wrong with creators becoming strategic in how they can effectively make forward-moves in the wake of a potentially game changing method of music commerce becoming obsolete.