SoundCloud is one of the very few avenues we turn to for music by new, undiscovered and underrated artistes, but unfortunately, the online audio distribution platform which hails from Germany may soon be shutting down its operations.
SoundCloud is currently in serious financial distress and its regional offices in London and the USA have even been closed completely, laying off a whopping 40% of its employees.
According to a new report and even with the layoffs, SoundCloud may only have enough money to survive for about 50 days more. Its users are also at a dramatic decline, from 175 million three years ago to about only 70 million monthly now.
SoundCloud’s subscription service SoundCloud Go+ also failed to revive the business, and we reckon that the company may be beyond saving at this point.