Back in October, SoundCloud announced that its annual revenue was up 43% to nearly $28 million — catalyzed by both the introduction of its premium tier, SoundCloud Go, and a rampant increase in advertisements.
Having finally achieved a glimpse of financial stability, SoundCloud is now vowing to expand its revenue sharing program to include more artists. In its current state, SoundCloud has limited payouts to a select group of creators who have been personally invited to participate in the company’s Premier partner program. The eventual goal of the program is to have it accessible to all artists on SoundCloud, though for now, the platform will remain exclusive to invitees. With that said, SoundCloud has promised a “significant and ongoing increase in the number of independent artists invited to make money from the work they share on SoundCloud.”
Read SoundCloud’s full 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.”
