financials

SoundCloud Holdings GmbH and its subsidiaries reported revenue in 2021 of 230.7 million euros ($273 million at the average exchange rate in 2021 of 1.18308), up 19% from the prior year, according to audited financial statements published by the privately held company in Germany on Tuesday (Dec. 13).  SoundCloud, which originally gained popularity for its embeddable streaming widget, has a unique business model that mixes tools for music creators and listening for fans. Fan revenue — from advertising and subscriptions — improved 16.6% to 143.3 million euros ($170 million), or 62.2% of total revenue, down from 63.5% in 2020. Revenue from subscribers grew 20% year over year and exceeded internal expectations, according to the financial statements. Advertising revenue was in line with exp...