A lot of the focus on SoundCloud has tended to be around how it is empowering as a platform for artists and, in many cases, a way for them to build an audience on their own without necessarily having to go the label route. Or it works as a sort of casting call for acts and proof of concept to labels that there is momentum behind them.
But labels too can use and work with SoundCloud just as artists do. At the end of last year, we saw that in motion with Kei Henderson, founder of Third & Hayden, who created an artist development joint venture with SoundCloud.
Henderson said in a statement, “SoundCloud is typically one of the first touch points for indie artists and I feel a great part of my career has been brand building with artists from day zero – for this reason they’re the best partner for what we’re building. We’re being intentional on ground up development.”
The deal is described by SoundCloud as part of its expanding “roster” business where it is “focused on providing independent artists with bespoke tools and services to advance their careers”.
Essentially, Third & Hayden will spot and sign new acts and then lean into SoundCloud’s services division which Billboard says “will provide marketing, A&R, distribution and promotion support, as well as financial backing”.
This all follows a JV earlier in 2022 between SoundCloud and Solid Foundation, the management/creative services division of QC Media Holdings. This in turn followed a JV between SoundCloud and Solid Foundation Management in February 2022.
SoundCloud, as it joins most tech platforms on a journey through the financial wringer, is keen to show to the wider industry that it is not a spent force and that it is still a place where new talent can be spotted, nurtured and amplified. Through these assorted JVs with music companies, SoundCloud is hoping for a boost to its own profile.
The beauty for social and digital platforms is that they can come out of nowhere and change everything. That is also their curse as someone else can do the same and easily steal their thunder. If this is enough to keep SoundCloud deep in the industry’s consciousness remains to be seen, but no one can accuse it of sitting idly by as it slides from favour.
