SoundCloud is yet to receive the biggest makeover in their nine year history. Ever since the music streaming platform struck a lucrative deal with Universal Music Group this past January, the infamous company has been quick to turn around its misfortune.
Now if latest reports are to be believed, SoundCloud is about to become a totally different musical destination, with a subscription service happening by October of this year, according to sources to Digital Music News. The major development comes on the heels of the Germany-based platform’s recent acquisition of ex-NBC VP Alison Moore as their new Chief Revenue Officer. Also an extremely crucial move in itself, the Alexander Ljung led company has their plans laid down to convert themselves into a fully-monetized platform, if their recent loss reports of $44 million are to act as an indicator.
A highly ambitious yet revolutionary step for the company, UMG will reportedly, also offer small leniency periods if it sees positive results coming in from the company and has made significant progress in their overhaul. Stay tuned for more updates as the music streaming platform landscape is set to experience drastic effects, and maybe for good.
Source: DMN
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