Can Chance the Rapper Save SoundCloud From Its Rumored Demise?

NEW ORLEANS, LA - JULY 02:  Chance The Rapper Performs onstage at the 2017 ESSENCE festival at the Mercedes-Benz Superdome on July 2, 2017 in New Orleans, Louisiana.  (Photo by Prince Williams/FilmMagic)

Can Chance the Rapper Save SoundCloud From Its Rumored Demise?

The music service is reportedly in big trouble.

Published July 14, 2017

The streaming apocalypse is in full swing ― but if we leave it to Chance the Rapper, things may not end as tragically as anticipated. 

According to a report from TechCrunch released on Wednesday (July 12), SoundCloud only has enough money left to keep operating for the next 50 days. Despite launching an on-demand subscription service last year to rival that of streaming juggernauts Apple Music and Spotify, the music platform beloved by independent artists and DJs has found difficultly making money in such a competitive market. 

Co-founders Alex Ljung and Eric Wahlforss have assured artists and listeners that the company was in control of its "independent future" and on a path to "profitably." However, a massive layoff of 173 staffers last week as well as the closing of the company's London and San Francisco offices are very telling of SoundCloud's dire situation. 

The news of the niche streaming service's potential collapse even prompted a response from Chance the Rapper, who took to Twitter to ease the frustrations of many fans. 

While the "No Problem" rapper didn't provide further details on what exactly he was "working" on, he continued to tweet to his followers regarding SoundCloud's impact on the music landscape of today. 

The 24-year-old Grammy-winning artist, who got his own eccentric start on SoundCloud, shared his debut album, Coloring Book, for free on the music platform. Lil Chano even name-checked the streaming service during his Grammy acceptance speech in February, saying: “Shout out to SoundCloud for holding me down.”

On Friday (July 14), Chance apparently followed up on his word and claims to have amended SoundCloud's financial issues. Taking to Twitter the Chi-town native stated that the streaming service adored by many is "here to stay."

Looks like SoundCloud's potential collapse was "No Problem" for Lil Chano. 

Written by Kai Miller

(Photo: Prince Williams/FilmMagic)


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