LOS ANGELES (AP) — Soundcloud is entering paid music streaming, hoping to turn its huge community of cover singers, dubstep remixers and wannabe stars into a bigger source of revenue.
Since its launch in 2007, the Berlin-based online music service has allowed pretty much any audio to be uploaded to its cloud — from Kanye West outtakes to teenagers singing over canned music. It has slowly introduced tools to earn revenue, introducing ad revenue sharing for invited musicians in 2014.
But after signing deals with major labels, including holdout Sony Music this month, Soundcloud is adding a $10 monthly subscription for consumers, giving them ad-free listening and a whole range of music from mainstream artists that had shunned the service because it only gave tracks away for free, including top acts like Taylor Swift.
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