In October, SoundCloud announced that their sales have gone up by 43% and thereby gained nearly $28 million. The increase in revenue has resulted in the introduction of the premium service SoundCloud GO, and the also the number of ads will go up on the platform. Now that Soundcloud has gained financial stability the music streaming service has decided to pay the artists to upload & stream their music on Soundcloud.
This will be a premium plan on SoundCloud and the ultimate goal is to enable this plan to all artists. However, it will now be available only for artists invited by SoundCloud.
Read the announcement of the service by SoundCloud gave 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.’