In the midst of all the bad press surrounding SoundCloud working on a new licensing deal with top record label companies, the company has come out and issued a statement saying that monetization was part of their business model all along.
Speaking to Music Week, Toig said:
“Building a company takes time and SoundCloud has been built in three phases.
Firstly, we wanted to build tools for creators. Secondly, we wanted to help artists build a huge audience through our service. Now we’re taking the third step – enabling creators to make money through the platform.”
The service is called On SoundCloud, which provides “premier” users with opportunities to make money using the platform. Thus far, over 20 content partners such as Red Bull, Jaguar and Comedy Central have already signed up as advertisers on the website.
Source : Mixmag