Is Internet culture lucrative? The answer remains bleak for any industry. Some of recent history’s most culturally powerful companies — Tumblr, Vine, Twitter, Reddit, even YouTube — have operated in the red since their founding, and have struggled to sustain themselves as businesses.
Music streaming is no exception, and SoundCloud was dangerously close this year to joining the ever-growing music startup graveyard. On one hand, SoundCloud has rendered itself indispensable in daily music-industry operations and chatter, due to its prolific history of incubating many Billboard Hot 100-charting artists years before they hit the mainstream (Post Malone, Lil Uzi Vert, Lil Pump, XXXTentacion: the list of “SoundCloud rap” icons goes on). read more at billboard.com