SoundCloud has unveiled a new $4.99 per month music subscription service, SoundCloud Go.
The company is hoping to attract potential subscribers with the new low cost. The new subscription service option allows for users to access 120 million songs, without any ads. Additionally, users can listen while offline.
However, there is a catch. Users are not able to access as much music as those who pay $9.99 per a month. The company’s other subscription option, SoundCloud Go Plus, is priced at $9.99 and allows for the same features as SoundCloud Go. However, this option allows for users to access 150 million songs as opposed to 120 million. The free-tier is still available for users as well.
Recently, SoundCloud has been searching for new ways to gain funding and boost revenues. A former acquisition plan with Spotify did not work out; SoundCloud lost its COO and financial director.
SoundCloud has a lot of competition with other big streaming services such as Apple Music and Spotify, who individually have millions of paying subscribers. Apple Music has 20 million paying subscribers, while Spotify has 40 million paying subscribers. At the moment, SoundCloud has not released any numbers in terms of how many paying subscribers they have.
According to the company: “The addition of SoundCloud Go not only gives you more freedom to choose the experience that fits you best, it also enables us to increase revenue to further expand our revenue sharing program for creators.”