New investors are hoping to turn a struggling SoundCloud around, but their job rapidly becoming more difficult because of falling usage. Traffic to soundcloud.com has seen a steady decrease, down from 353 million visitors in December 2015 to 289 million in May 2017.
Both soundcloud.com and spotify.com have a significant presence worldwide, with over 330M and 200M average monthly visits respectively in the last 18 months, according to a new SimilarWeb analysis. Both are outperforming their closest competitor, pandora.com with 148M monthly visits.
But during during that period, traffic to soundcloud.com has seen a steady decrease, down from 353M visitors in December 2015 to 289M in May 2017. In July
2017, SoundCloud laid off 40% of its workforce.
Globally, Spotify performs better than SoundCloud in Asia, winning in all markets where the service is available (Philippines, Malaysia, Singapore, Hong Kong) and Latin America, where Spotify dominates 13 out of top 17 countries by traffic volume (losing only in Colombia, Venezuela, Ecuador, Bolivia). In Europe, Soundcloud is more popular with the exception of countries of Iberian Peninsula, Italy, Denmark, Sweden and Poland.
A new $169.5 million emergency investment have saved SoundCloud for now and a new management team is plotting a turnaround.