Under the watch of CEO Kerry Trainor, who joined in 2017, SoundCloud has bounced back from the financial troubles that threatened the company’s existence that year.
In 2020 there has been investment from SiriusXM; a series of creator-focused announcements and initiatives; and last week news that 2019 was the company’s biggest ever for active users, listening time, subscribers and advertising.
Now Trainor is stepping down, to be succeeded by SoundCloud president Mike Weissman at the start of 2021, although Trainor will remain on the company’s board of directors.
“With the end of 2020 in view, we will have achieved our third consecutive year of accelerating revenue growth and our first profitable quarter, with substantial cash reserves to continue building SoundCloud,” wrote the former Vimeo boss in his valedictory email to staff.
“Alongside our business performance, we’ve continued to grow the world’s largest open audio platform, now with over 250 million tracks, 12 million creators heard every month, and over 80,000 artists monetizing their work directly with SoundCloud.”
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