SoundCloud is hoping to be a profitable business in 2023, but that’s going to involve further reducing its headcount.

Yesterday, the company announced that it is laying off another 8% of its staff – around 40 people – in what CEO Eliah Seton described as “a challenging but essential decision to ensure the health of our business and get SoundCloud to profitability this year”.

The reductions follow last August’s news that SoundCloud was laying off up to 20% of its staff at the time – around 80 people. Since then, Seton has moved from president to CEO following the departure of the previous boss Michael Weissman.

SoundCloud also recently launched its new ‘Fans’ product offering artists more analytics on their most valuable fans, as well as the ability to message them.

In its report on the new layoffs, MBW claimed that SoundCloud may be “in the preliminary stages of exploring a potential investment event, or even a sale, over the next 12 months”.

The company’s former CEO may be a helpful contact on that front: he recently joined ForgeLight, a company that invests in and runs media and consumer technology companies.

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