SoundCloud still publishes annual financial results in the UK through Companies House, and its 2019 figures dropped last night.
The streaming service saw its revenues grow by 37% to €147.6m (around $196.8m) last year, while its operating loss narrowed from €32.9m in 2018 to €23.8m in 2019. “We set all-time highs for all key business metrics including monthly active users (MAUs), daily active users (DAUs), listening time (LT), subscribers and advertising and we exited the year with our strongest financial quarters in SoundCloud’s history,” explained the filing.
SoundCloud’s refocus on tools for creators, including its Repost distribution service – acquired for €9.4m in June 2019 – was one reason for the growth, as was its ad sales partnership with Pandora in the US. The financials also break down SoundCloud’s revenues between its ‘listener business’ (€99.5m in 2019) and its ‘creator business’ (€48.1m) – up by 31.6% and 48.4% respectively.
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