The music sharing network Soundcloud is one of my favourite social media platforms. It allows you to listen to music from around the world and keep up to date with what’s happening in music culture. Unfortunately, it’s not doing too well in terms of business and has been for the past few years.
The site is a community based model and uses premium subscription services to generate revenue. I am not a premium user and don’t see any reason to become one which could be why the site is losing so much money.
The premium accounts are exclusively for those who generate content, allowing greater amounts of space, meaning more content can be uploaded. It’s a great idea and I commend it in theory, but evidently the amount of users outweighs the few artists willing and able to pay for premium accounts. The site is planning on moving to a user freemium user subscription model, the details I’m unsure of. As a user of Soundcloud I think this might be effective, I don’t use Spotify or clones of it because of the lack of accessibility for people to upload their own music. The product offered by them is differentiated enough for me to choose it over it competition, but I can’t speak for the other users.
Why do you choose the music streaming service you use over others?