5. SoundCloud users are already moving to rival services

It’s impossible to accurately measure the number of artists, labels and DJs that have abandoned SoundCloud in the wake of the high-profile account takedowns that occurred last year. As far as hosting DJ mixes goes however, We Want EDM preferred method is now Mixcloud, and the number of embeds from the rival service appearing in our regular round-up of the week’s best mixes has visibly increased in the past six months.

Artists wanting to host tracks also have an alternative. Last year PAN’s Mat Dryhurst launched Saga, an embeddable platform that gives artists full control over how their content is displayed online. There’s also Bandcamp, which gives artists a fair way to sell their music independently. Unless the amount of money SoundCloud plans to pay artists out of its subscription revenue is favourable, they have plenty of reasons to go it alone.

SoundCloud has been a potent democratising force for bedroom producers and bands, and if it was to disappear, it’d be a great loss for the music world. A statement from the company to FACT today insisted the recent figures “reflect those of a company in a strong growth stage,” which still has “over 18 million creators are using the platform, sharing well over 110 million tracks, and reaching 175 million monthly active listeners.” Whether that will still be the case in a few years, only time will tell.