The site is reportedly closer to running out of funds than many expected.
Source: The Potential Death of SoundCloud Should Scare Music Lovers
The reports about SoundCloud not being acquired and now going through a round of layoffs and potentially shutting down is another bullet in the chamber of a gun aimed at the head of indie artists… but not for the reason you think.
Yeah a lot of people will lose, again, when a platform like SoundCloud is gone, but the same thing happens every time a social media platform comes along and people decide to build their entire lives around that platform as opposed to creating their own delivery system.
I really want to dive into this a lot more, but I’ve written about it so often that I can’t even bring myself to repeat the same thing again. The death of SoundCloud is a reminder that although you have to build a following on social, because that’s where people are, doing so without also building your own platform first is stupid.