SOUNDCLOUD HIRES A CHIEF REVENUE OFFICER AHEAD OF SUBSCRIPTION SERVICE LAUNCH
The company is attempting to monetise its streaming service after suffering financial losses
SoundCloud has hired a Chief Revenue Officer as it prepares to launch its paid subscription service.
The company has enlisted Alison Moore to oversee its strategy for monetisating its streaming platform. Moore was previously involved in the rollout of NBC’s ‘TV Everywhere’ and HBO Go, two attempts by television networks to get users to pay for their content through streaming apps.
Despite attracting 175m active users, SoundCloud has struggled to find a way to bring in revenue. In 2014, financial documents revealed that the company had made annual losses of $56.4m (£39.6m).
Acording to Re/Code, SoundCloud has been planning a paid subcription model for some years but has been repeatedly delayed by protracted agreements with major labels.
The company's recently inked deal with Universal Music Group has reportedly opened the way forward for its subcription service, due to arrive later this year.
