By Chox-Mak
Hip-HopVibe.com Staff Writer
One major aid for independent artists, in this new era, has been popular for artists, SoundCloud. Both major and independent artists have used the service. But, anyone who has followed the evolution from CDs to streaming knows making it profit has been a difficult task.
On The Defiant Ones, last night’s installment showed Jimmy Iovine discussing the Apple Music ordeal. Of course, Jay-Z’s TIDAL has suffered its fair share of scrutiny. In the midst of their launches, to keep up, SoundCloud offered SoundCloud Go.
According to SoundCloud’s co-founder, Alex Ljun, the company will have to lay off 40% of their staff. All of this is due to the low profit margin the company is enduring. Ljun says, as it currently stands, SoundCloud only has enough money to last for another fifty days.
Source: Say Cheese
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