SoundCloud's 2024 Revenue Already Outpaced 2023
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There's another side to music streaming that Spotify and Apple Music don't have command of - User generated music. Now, you might be thinking, "is that even a real thing?". The answer is yes, and demand from both creators and consumers has reached a new peak!
SoundCloud is a unique platform in that it's pretty niche and gets to charge all of its users - both creators and listeners - whereas other platforms charge consumers and pay creators. Something SoundCloud can do because it's not really a social media platform and is more like a traditional streamer, even though its content is mostly all user generated.
Between creators who pay $10.99 - $19.99 and listeners who pay $4.99 - $9.99, SoundCloud earned $10M from the App Store and Google Play in September, according to our estimates. And that's after store fees.
It's the most SoundCloud has ever earned in a single month, and it comes a month after SoundCloud's previous all-time best, which was also just a month after its all-time best. In fact, every single month since June was like that.
In fact, SoundCloud's revenue has been growing steadily and fairly consistently for years. The last two, however, are massive.
In 2022, we estimate SoundCloud earned $47M of net revenue. In 2023, the platform's yearly haul skyrocketed to $72M, almost twice as much.
2024 is even better. With three whole months to go, SoundCloud's revenue is already higher than 2023, the platform's best year on record. According to our App Intelligence, SoundCloud has already amassed $77M of net revenue so far in the year. Even if revenue didn't grow faster, which it is, SoundCloud is likely to cross $100M by the year's end.
SoundCloud is currently #57 on the App Store's top-grossing list in the US, where most of SoundCloud's revenue, 51% in September, is coming from.
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All figures included in this report are estimated. Unless specified otherwise, estimated revenue is always net, meaning it's the amount the developer earned after Apple and Google took their fee.
