SoundCloud Revenues Estimated to Increase by 43% in 2016

SoundCloud's new financials offer a bright spot in its otherwise gloomy forecast
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SoundCloud's new financials offer a bright spot in its otherwise gloomy forecast
Soundcloud

Soundcloud

At a time in which SoundCloud's future is as dubious as ever, unexpectedly positive news has surfaced in regards to the company's financial solvency. According to a new estimate, the music streaming platform's year-to-year revenue has increased by a whopping 43%.

The estimate arrives by way of Digital Music News, who mentioned that their story would develop as they compile more information from financial information aggregator PrivCo. According to their sources, SoundCloud has reported 2016 earnings of €24,865,000, the rough equivalent of $27,919,665.

The amount is 43% more than the €17.35 million ($19.48 million) the company reported in 2015. However, SoundCloud still faces its fair share of issues as its 2014 liabilities totaled €39.1 million ($43.9 million) - and the company is in advanced talks with its competitor, Spotify, who is widely expected to scrap the service following its purchase.

It's anybody's guess what the future will hold for SoundCloud, but in light of recent developments it stands to reason that we'll know sooner rather than later.