SoundCloud posts its first ever profitable quarter

SoundCloud has achieved its first ever profitable quarter in Q3 this year, Music Business Worldwide reports. Also, SoundCloud posted €147.6 million in revenues in calendar 2019, up 37% year-over-year, which made for annual operating losses in 2019 narrowing significantly - down 28% to €23.8m from €32.9m in 2018. Some more good news - Spotify, Apple Music, and YouTube Music currently have circa 70 million tracks on each of their platforms, SoundCloud now plays host to over 250 million tracks.