Is SoundCloud Imploding? Top Execs Jump Ship as ‘Desperate’ Fundraising Begins

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Will 2017 see the end of SoundCloud?

2017 is shaping up to be a difficult year for SoundCloud.  Several months ago, Spotify walked away from SoundCloud acquisition talks.  In fact, SoundCloud co-founder Alexander Ljung all-but-confirmed bankruptcy rumors.  He even admitted that the company may go bankrupt should their GO subscription service fail to take off.

“SoundCloud may run out of cash earlier than December 31, 2017… These matters give rise to a material uncertainty about the Group’s ability to continue as a going concern.”

Add even more bad news.  Financial Times reports that the German streaming service just lost two key executives.  Marc Strigel, the company’s COO, and finance director Markus Harder have resigned.

The company quickly downplayed the high-profile exits. Without giving specific details, a spokesperson told FT,

“After five or so years, they felt it was time to move on to new adventures.”

The sudden (read: abrupt) exits come as the Berlin-based streamer prepared a new wave of fundraising. Once again downplaying the exits, a spokesperson said,

“SoundCloud is currently fundraising, which is typical of most startups of our size and in our phase of growth. This [exits] is unrelated to our ‘normal course’ fundraising efforts, which are being led by our recently appointed Chief Financial Officer [Holly Lim.]

SoundCloud remains in a position of strength and is confident in its long-term prospects as it continues to be the go-to platform for the creative community.”

Investors, however, painted a clearer picture of what’s going on inside the company.  After refusing to provide the company with additional funds, an anonymous German financier told FT that SoundCloud is “begging for money.”  He said that the company needs to rethink their $700 million valuation and settle for a lower amount.

The Berlin-based company quickly denied the desperation rumors.  Yet, the high-profile exits, and the new (read: hasty) fundraising rounds underscore SoundCloud’s poor position in the music streaming market.  The company has yet to turn a profit, and 2015 losses amounted to €51 million (or $54 million).  The service currently boasts over 200 million creators and 135 million tracks, most from new artists.

H/T: Digital Music News 

Even if you don’t like Justin Bieber…

141222_r25909_690Yes we are aware this song has had more attention that it deserves. Yes we know you probably are not a J. Bieber fan.
Regardless, this is a good look at the creative process behind “Where Are Ü Now?” by Jack Ü the track that went platinum in under six months.  How to make a hit video.

Click here for DemoDrop remixes —>Where Are Ü Now?

 

Deadmau5’s reaction to Bieber’s “expensive sounds” comment.

Yeah. It's expensive allright. This fucking remix cost me 60k.

A post shared by deadmau5 (@deadmau5) on

Martin Garrix Leaves Spinnin’ Records

From Martin’s Instagram

martijn

NEWS:

Due to rumours in the music industry I think it is necessary to inform everyone as follows.
It is correct that I recently nullified/terminated my agreements with MusicAllstars Management B.V. and Spinnin Records B.V.
There was a difference of opinion between us regarding the reasonableness of the agreements. Although I enjoyed working with the Spinnin and MAS team, it was not possible to bridge our different views with MusicAllstars Management B.V. and Spinnin Records B.V.
From the beginning of this year I tried to get back the ownership rights of my music from Spinnin Records and to keep my confidence in MAS. I am extremely disappointed that the discussions have not led to a change in the agreements or return of the ownership rights, and that is why I nullified them.
With that, I close this chapter. I trust that everyone respects that I would like to leave this behind me and that I prefer not to discuss this any further.
I am working on new tracks and have an exciting new project so hopefully I can share good news with you during Amsterdam Dance Event.
Martijn Garritsen

Charts are back, with history

The charts are finally back again, now with archive going all the way back to our start in 2013.

We categorized the tracks per genre and per type. The sorting is based on the number of supports (likes) vs the number of plays.

Go check out the charts.
Want your tracks to end up in the charts? Get supports!

Retrying a failed upload

We’ve had some users that complained about uploads taking forever to process.
From now on if a track processing takes longer than 5 minutes we will show a “retry” button so that you can force processing of the track again.

Schermafbeelding 2015-01-12 om 20.30.27

100.000 tracks

Great news, We’ve just reached 100.000 uploaded tracks!

A new demodrop version is coming, with a new layout, a better search, new sections like contests, livestreams, tutorials, new track distribute functionalities, statistics and more…

We are testing out the new version  now, we will be rolling out the new version to everyone in the beginning of september.

Become Demo of the week on Quintino’s – SupersoniQ radio

Submit your demo to Quintino this week and he will hand pick tracks to become Demo of the week on SupersoniQ Radio.


“Hi this is Quintino and I will personally reply to ALL entries with constructive feedback on how to improve your track and will give you some tips to promote your track.”

How to submit your entry
Buy Quintino – Go hard on Beatport and submit your demo along with link to a screenshot of your Beatport purchase.

Screenshot?
Don’t know how to create a link to your screenshot? You can also email your track and screenshot (as attachments) to quintino@demodrop.com

Top30 is back

The charts were gone for a couple of months, but now they are back. You can see what tracks are currently most supported, and most talked about.

To have your track end up in the top 30, you need supports (aka likes) share your tracks with friends, family and followers.
demodrop.com/charts/

You can also use demodrop.com/tracks/ to search what tracks are most downloaded, supported or commented in a certain timespan.