SoundCloud’s losses increase

SoundCloud has posted dramatically increased losses in its annual filings for 2013, despite healthy revenue growth.

Losses nearly doubled from €12.4m to €23.1m from 2012 to 2013, while revenues increased from €8m to €12.4m.

“We are in a phase of growing SoundCloud into the market-leading platform for listening to, creating and sharing sound” the company’s report explains on the state of affairs. “This has necessitated investment in technology, headcount and marketing. Our overhead base has increased faster than our revenues”.

Meanwhile, SoundCloud’s negotiations with major labels over music licensing and proposed advertising revenues are reported to have stalled.

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