After countless dark clouds over the music streaming platform SoundCloud, the platform may have some sunshine after all.
According to Digital Music News and PrivCo, SoundCloud had a gross revenue of $27.9 million in 2016, a 43% increase from year's past. The gain this year is most likely driven entirely from advertising revenues, although other explanations for the increased revenue may be revealed at a later date.
Back in 2014, SoundCloud reported a $43.9 million loss while also reporting $19.48 million in revenue.
As Spotify continues to have further acquisition discussions with SoundCloud, some believe the chatter may have increased SoundCloud's value.
