The Next Generation Music Entertainment Company Is Recognized For Leading What’s Next In Music And Game-Changing Industry Innovations
New York, NY, March 8, 2022 — Today, SoundCloud was named to Fast Company’s prestigious annual list of the World’s Most Innovative Companies for 2022. One of the world’s most influential platforms holding a singular market position as both a music-streaming service with the largest catalog of music and an artist services and distribution business, SoundCloud was recognized for leading what’s next in music and its innovations to help artists grow long-term, successful careers.
One of these innovations was the company’s 2021 introduction of Fan-Powered Royalties, a more fair and transparent way to pay the hundreds of thousands of artists who monetize directly on SoundCloud. The first-to-market revenue model ties artists pay directly to fandom, meaning artist royalties are based exclusively on plays by fans as opposed to revenue pools in the pro-rata model -- a model that has been used by every other music streaming platform since the introduction of music streaming over a decade ago. To date, independent creators monetizing on SoundCloud have earned on average 60% more through Fan-Powered Royalties than the traditional pro-rata model, getting them significantly closer to their dream of creating full-time.
SoundCloud’s recognition as one of the World’s Most Innovative Companies is the latest accolade reinforcing SoundCloud’s position as a next generation music entertainment company. SoundCloud, the largest A&R source on the planet, also recently announced a joint venture with Solid Foundation, the full-service artist management and creative services arm of the media conglomerate, QC Media Holdings, to discover new talent and revolutionize artist partnerships by empowering creatives with bespoke resources, tools and access. In addition, the company expanded its artist services offering with the launch of an expanded, top-tier service for independent artists, which to date includes deals with a roster of artists including Lil Pump, Tekno and MadeinTYO. SoundCloud also continues to elevate emerging talent through programs such as First on SoundCloud, an emerging artist accelerator program investing in the journey of artists to achieve their “first” major career milestones, and Scenes, the award-winning music discovery series surfacing the hottest music scenes bubbling up on the platform.
Fast Company’s Most Innovative Companies list seeks out the most groundbreaking businesses across the globe and industries to honor them for making the biggest impact on their industries and culture as a whole. These companies are creating the future today with some of the most inspiring accomplishments of the 21st century. In total, 528 organizations were recognized across 52 categories. The issue (March/April 2022) is available online here, as well as in-app form via iTunes, and on newsstands beginning March 15.
SoundCloud is a next-generation music entertainment company, powered by an ecosystem of artists, listeners, and curators on the pulse of what's new, now and next in culture. Founded in 2007, SoundCloud is an artist-first platform empowering artists to build and grow their careers by providing them with the most progressive tools, services, and resources. With over 300 million tracks from 30 million creators heard in 190 countries, the future of music is SoundCloud.
Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies, and thinkers on the future of business. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication Inc., and can be found online at www.fastcompany.com.