SoundCloud CEO Insists Company Is Here To Stay
Following on from last week’s layoffs, SoundCloud CEO Alex Ljung has moved to reassured fans and investors on the company’s blog.
He says “there’s an insane amount of noise about SoundCloud in the world right now. And it’s just that, noise. The music you love on SoundCloud isn’t going away, the music you shared or uploaded isn’t going away, because SoundCloud is not going away. Not in 50 days, not in 80 days or anytime in the foreseeable future. Your music is safe.”
“Along with each of you, we’ve built this incredible creative community of artists, podcasters, DJs, producers and more who are the driving force in pushing culture forward in the world. That’s not going to change. Last week we had to make some tough decisions to let go of some of our staff, but we did this to ensure SoundCloud remains a strong, independent company.”
“Thank you for the outpouring of love and support. Some of you have asked how you can help–spread the word that we’re not going anywhere and keep doing what you’re doing–creating, listening, uploading, sharing, liking, and discovering what’s new, now and next in music. SoundCloud is here to stay.”
Still, Alex’s post comes at a precarious time for the company. Though often cited as the ‘Youtube of the music streaming world’, SoundCloud has struggled to keep pace with the paid subscriber counts of rivals like Spotify and Apple Music.
Despite moving in March to secure $70 million in debt funding from investors, the company was forced to lay-off 40% of staff last week.
SoundCloud’s troubles have even recently seen the service’s biggest star get involved, with award-winning hip-hop artist Chance the Rapper reassuring fans, albeit cryptically, over Twitter that the company is here to stay.
Just had a very fruitful call with Alex Ljung. @SoundCloud is here to stay.
— Lil Chano From 79th (@chancetherapper) July 14, 2017