If anyone wondered why a SoundCloud Subscription Service hasn't been created yet, it's because one major company had been holding out up until just recently. Sony Music wasn't originally on board citing concerns over monetization and profitability in the past. But it has since agreed to a licensing deal that will allow the music streaming platform to move forward with its plans and compete with similar services.
Competing with Spotify and iTunes, the SoundCloud Subscription Service will offer $10 monthly charges and also introduce a mid-tier service priced lower than that. At least, according to rumors. The Verge writes, "Combined with the plethora of songs that live solely on SoundCloud already could, SoundCloud could have a slight advantage over competing streaming services, which largely offer the same music catalog."
What's Driving This Trend
- Soundcloud Subscription Service
- The launch of a SoundCloud Subscription Service, which will include mid-tier pricing, could disrupt the music streaming industry by offering a unique music catalog.
- Monetization Concerns
- As more music streaming platforms emerge, the music industry will need to address monetization concerns in licensing deals.
- Competition with Spotify and Itunes
- The SoundCloud Subscription Service will compete with established music streaming platforms such as Spotify and iTunes.
Who This Affects Most
- Music Streaming
- The launch of a SoundCloud Subscription Service could disrupt the music streaming industry.
- Record Labels
- The licensing deals required for music streaming services offer opportunities for record labels to adapt and innovate through monetization strategies.
- Digital Music Services
- The emergence of the SoundCloud Subscription Service is indicative of the rapidly evolving digital music services industry.
