25 Notable SoundCloud Statistics: 2024 Revenue & User Data

Digital music streaming has become the norm since the late 2010s and advancements in apps like distribution software have also made it possible for artists to sell their music without being dependent on record labels and contracts. Though physical sales of music have plummeted, people are listening more than ever via their mobile devices and popular music streaming services. In fact, music streaming has eclipsed radio based on the latest streaming trends.

In this article, we’ll be featuring SoundCloud—one of the earliest music streaming services to be established before the whole industry exploded with hundreds of similar apps and sites. These SoundCloud statistics will help you learn more about the company’s history, target demographics, and platform usage.

Key SoundCloud Statistics

To say that the music streaming industry is huge is an understatement. Case in point: 83% of revenues in the US music industry came from streaming. In 2020, revenues crossed the $10 billion mark.

Among the most searched music streaming sites globally, SoundCloud placed second with 13.6 million searches per month on average. However, it wasn’t always easy for the Berlin-based company. Being one of the very first companies to offer streaming services in 2007, SoundCloud has experienced turbulent times and came close to bankruptcy until it secured almost $170 million worth of funding from the Raine Group and Temasek.

SoundCloud now boasts of over 250 million tracks on its platform. The US is still where SoundCloud receives most of its traffic in 2021.

• SoundCloud is the second most searched music streaming platform globally in 2020, generating 13.6 million searches per month on average (SEMrush, 2020).
• SoundCloud has the most diverse and largest audio catalog among music streaming sites/apps with over 250 million tracks available (EDMTunes, 2020).
• 27% of SoundCloud’s traffic comes from the US. This is followed by the UK (6%), Germany (5%), France (3%), Canada (3%) (Similarweb, 2021).
• SoundCloud was able to save itself from bankruptcy in 2017 when it received $169.5 million worth of funding from the New York investment bank Raine Group and Singapore’s sovereign wealth fund Temasek (Techcrunch, 2019).
• In April 2020, SoundCloud announced a $15 million plan to help musicians amidst the COVID-19 pandemic (EDMTunes, 2020).
• SoundCloud was last valued at $500 million in 2017 (Techcrunch, 2020).

SoundCloud Revenue Statistics

The global music streaming market is projected to grow to $46.9 billion in 2027. If its growth continues, SoundCloud can end up taking a huge chunk of this market.

Since receiving its financial injection in 2017, SoundCloud—then led by CEO Kerry Trainor—has posted successive revenue growth. The once-beleaguered company has finally reported its first profitable quarter in 2019 and has also reported an increase in advertising revenue, subscriptions, and a decrease in operating losses.

Moreover, it also got two more investors to fuel its journey back into the industry. Social media giant, Twitter, and broadcasting company, SiriusXM, have both placed their millions on SoundCloud.

• SoundCloud’s revenue exceeded $200 million in the last quarter of 2019. (Dancing Astronaut, 2020).
• Its revenue was also up 37% year-on-year in 2019 (DJ Mag, 2020).
• From a revenue of €24.87 million in 2016, SoundCloud was able to increase it to €81.33 million in 2017 and €107.96 million (approximately $127 million) in 2018 (Statista, 2021).
• SoundCloud’s global ‘Listener Business’ generated $111.7 million in 2019 and its global ‘Creator Business’ generated $54 million in the same year (Music Business World, 2020).
• In 2018, advertising revenues were up 37.4% to €24.8 million (approximately $40 million) and constituted 23% of its total revenue (The Music Network, 2020).
• 69.6% of SoundCloud’s total revenues in 2018 came from the US, including 63.9% of global subscriptions and 88.8% of ad revenues (The Music Network, 2020).
• SoundCloud’s annual operating losses in 2019 also went down 28% from €32.9 million (approximately $39.7 million) to €23.8m ($26.7 million) (SoundCloud, 2019).
• In February 2020, SoundCloud closed a $75 million investment from SiriusXM Radio Inc. (SoundCloud, 2019).
• Meanwhile, Twitter has reportedly invested $70 million (Reuters, 2016).

SoundCloud Users Statistics

Aside from having an impressive collection of audio and music tracks, SoundCloud also boasts of over 20 million creators on its platforms. Combined with some of the best music distribution services, SoundCloud can be an excellent way to get your musical works out there.

Though stats on SoundCloud monthly active users in 2020 have not been updated, the latest data available show that there are over 70 million registered users and over 170 million monthly listeners.

• SoundCloud has 76 million registered users (i.e. users with accounts) and 175 million monthly listeners (DMR, 2021).
• There are about 25 million creators in SoundCloud (Music Ally, 2020).
• 12 million of those creators are heard monthly but 13 million (52%) are not (Music Ally, 2020).
• 80,000 artists are now monetizing their work directly via SoundCloud’s own distribution/services arm, Repost (Music Business World, 2020)
• 35% of SoundCloud’s audience is between the ages of 18 and 35 (Verto, 2018).

SoundCloud Usage

As we learned in the previous section, SoundCloud still has a good following when it comes to the number of users who visit and listen to content on the site. As of this writing, SoundCloud’s global ranking in Alexa is 134, and its US ranking is 95.

Though there is no clear data on SoundCloud hours listened by users, data on Alexa indicate that the average time a visitor spends on SoundCloud each day is 3 minutes 48 seconds.

• Total site visits to SoundCloud on both mobile and desktop reached 164.28 million in March 2021 (Similarweb, 2021).
• Traffic sources for SoundCloud largely come from direct visits (69.61%), search (17.98%), social (9.53%), and referrals (2.52%) (Similarweb, 2021).
• SoundCloud’s global site rank in Alexa is 134, while its rank in the US is 95 (Alexa, n.d.).
• The average time a visitor spends on SoundCloud each day is 3 minutes 48 seconds (Alexa, n.d.).
• 12 hours of audio are uploaded to SoundCloud every minute (Entertainment Weekly, 2020).

What are the competitive challenges SoundCloud faces in the music streaming industry?

As a pioneer in music streaming, SoundCloud faces a unique set of challenges to maintain and grow its user base in an increasingly competitive landscape. Here are some key competitive hurdles the platform encounters:

• Dominance of Mainstream Platforms: Major players like Spotify, Apple Music, and Amazon Music dominate the market, offering extensive music catalogs, high-quality audio, and exclusive content deals, making it harder for SoundCloud to capture new listeners.
• Monetization Difficulties: SoundCloud’s freemium model has historically struggled to generate steady revenue streams compared to subscription-based competitors. Balancing free access with paid tiers while maintaining profitability is an ongoing challenge.
• Content Moderation and Quality Control: With over 250 million tracks, SoundCloud is known for its diverse content. However, ensuring quality while managing copyright and content moderation is complex, especially compared to platforms focused solely on licensed music.
• Attracting Mainstream Artists: While SoundCloud is a favorite among independent artists, attracting mainstream musicians who prefer the established reach and compensation of platforms like Spotify remains a challenge.

SoundCloud continues to innovate to overcome these challenges, but a competitive edge in music streaming requires ongoing adaptation and strategic growth initiatives.

SoundCloud Benefits to Artists and Listeners

With over 175 million listeners, we can say that SoundCloud is still an important platform for artists who want to showcase their music, receive feedback from other creators, and connect with their fanbase. Meanwhile, listeners also benefit from using SoundCloud not just because of the free streaming service but also because of the wide range of music tracks they can discover on the platform. Also, you can always go for a paid subscription if you want to take advantage of the more advanced features and tools found on the site.

Overall, SoundCloud is both for musicians and music lovers. With a new CEO in position—Michael Weissman—it is still hard to tell whether the company will be able to continue its winning streak. In the meantime, there are literally millions of music tracks still left to be enjoyed and discovered on SoundCloud.

Key Insights

• Market Share and Popularity:
  • 83% of revenues in the US music industry came from streaming in 2020, highlighting the dominance of digital music consumption.
  • SoundCloud was the second most searched music streaming site globally in 2020, with 13.6 million searches per month.
• Diverse Music Catalog:
  • SoundCloud boasts the largest audio catalog among music streaming platforms, with over 250 million tracks available.
  • 27% of SoundCloud’s traffic comes from the US, followed by significant user bases in the UK, Germany, France, and Canada.
• Revenue Growth:
  • SoundCloud reported over $200 million in revenue in Q4 2019 and saw a 37% year-on-year revenue increase.
  • The platform has received substantial investments, including $75 million from SiriusXM and $70 million from Twitter.
• User Demographics and Engagement:
  • SoundCloud has 76 million registered users and 175 million monthly listeners.
  • 35% of SoundCloud’s audience is aged between 18 and 35.
• Artist Monetization and Support:
  • 80,000 artists monetize their work via SoundCloud’s distribution services.
  • SoundCloud announced a $15 million plan to support musicians during the COVID-19 pandemic.
• Usage Statistics:
  • The platform received 164.28 million site visits in March 2021.
  • On average, visitors spend 3 minutes and 48 seconds per visit on SoundCloud.

FAQ

1. What is SoundCloud’s market position in the music streaming industry? SoundCloud is one of the leading music streaming platforms, ranked second globally in search popularity in 2020. It holds a significant market share with 13.6 million searches per month.
2. How extensive is SoundCloud’s music catalog? SoundCloud offers the largest and most diverse music catalog among streaming platforms, with over 250 million tracks available for users.
3. What are the primary demographics of SoundCloud users? SoundCloud’s user base primarily consists of individuals aged between 18 and 35, accounting for 35% of its audience. The platform also has a significant presence in the US, the UK, Germany, France, and Canada.
4. How has SoundCloud performed financially in recent years? SoundCloud has shown substantial financial growth, with revenues exceeding $200 million in the last quarter of 2019 and a 37% year-on-year increase. The platform has also seen a decrease in operating losses by 28% in 2019.
5. How does SoundCloud support artists on its platform? SoundCloud supports artists through its distribution services, enabling 80,000 artists to monetize their work. Additionally, SoundCloud implemented a $15 million plan to aid musicians during the COVID-19 pandemic.
6. What is the average user engagement on SoundCloud? On average, users spend 3 minutes and 48 seconds per visit on SoundCloud. The platform received 164.28 million site visits in March 2021, indicating strong user engagement.
7. Who are some of SoundCloud’s notable investors? SoundCloud has attracted significant investments from prominent companies, including a $75 million investment from SiriusXM and a $70 million investment from Twitter.
8. How does SoundCloud rank in terms of global and US website traffic? As of the latest data, SoundCloud ranks 134th globally and 95th in the US on Alexa, reflecting its substantial online presence and user base.

References:

1. DJ Mag (2020). SoundCloud Reports First-Ever Profitable Quarter. Retrieved from DJ Mag
2. Eliezer (2020). How SoundCloud is proving a great digital turnaround story. Retrieved from The Music Network
3. Gail (2020). Soundcloud Had Its First-Ever Profitable Quarter in 2020. Retrieved from EDMTunes
4. Hwong (2018). Has SoundCloud Captured the Youth Market? Retrieved from Verto
5. Ingham (2020). SoundCloud, with More Than 200M Tracks on Its Platform, Saw 12-monthly Revenue Run-Rate Top $200 million in 2019. Retrieved from Music Business World
6. Lichterman (2020). Everything you need to know about SoundCloud. Retrieved from Entertainment Weekly
7. Lunden (2020). Music Streaming Pioneer SoundCloud Raises $75M from Pandora Ower SiriusXM. Retrieved from Techcrunch
8. Mao (2020). SoundCloud exceeds $200 million in annual revenue for the first time. Retrieved from Dancing Astronaut
9. Music Ally (2020). 12m SoundCloud creators get heard every month (but 13m don’t). Retrieved from Music Ally
10. Reuters (2016). Twitter invests $70 million in SoundCloud: Re/code. Retrieved from Reuters
11. Russell (2019). SoundCloud buys artist distribution platform Repost Network. Retrieved from Techcrunch
12. SEMrush (2020). Most searched music streaming services worldwide in 2020, by average monthly search volume. Retrieved from Statista
13. Similarweb (2021). SoundCloud.com. Retrieved from Similarweb
14. Smith (2021). SoundCloud Statistics and Facts (2021): By the Numbers. Retrieved from DMR
15. SoundCloud (2019). SoundCloud Annual Report. Retrieved from DigitalMusicNews
16. Statista (2021). Revenue generated by SoundCloud from 2010 to 2019. Retrieved from Statista

By Nestor Gilbert

Nestor Gilbert is a senior B2B and SaaS analyst and a core contributor at FinancesOnline for over 5 years. With his experience in software development and extensive knowledge of SaaS management, he writes mostly about emerging B2B technologies and their impact on the current business landscape. However, he also provides in-depth reviews on a wide range of software solutions to help businesses find suitable options for them. Through his work, he aims to help companies develop a more tech-forward approach to their operations and overcome their SaaS-related challenges.