SoundCloud is laying off 20% of its worldwide personnel

SoundCloud is laying off 20% of its worldwide personnel

SoundCloud implemented a new payout system in March 2021 that directs funds paid in by subscribers or advertisers to the artists fans choose to stream, rather than pooling subscription and advertising money together and dividing it based on which artists contributed the most streams, as competitors Spotify and Apple Music do. They signed a license agreement with Warner Music Group in July to use the same royalty scheme.