SoundCloud 2016 financials show losses increased to $74.5m
Posted on: 13 avril 2018, by : Stuart Dredge

SoundCloud has published its financial results for 2016 through Companies House in the UK. They show that the company’s revenues grew by an impressive 88.9% to €50.3m that year (around $62m) but that its net loss grew by 45.4% to €74.5m ($91.8m) in 2016.
That was based on the company’s cost of sales – including royalties – increasing by 135.9% to €36.1m ($44.5m). Note, that puts SoundCloud’s cost of sales at just under 72% of overall revenues – not so different from other streaming services.
The post SoundCloud 2016 financials show losses increased to $74.5m appeared first on Music Ally.
Source: Music ally

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