Electronic music uploads account for 22% of the streams on SoundCloud, and fans of the genre are significantly more likely to engage in other ways.
Despite SoundCloud‘s origins in dance music, many came to associate the platform with hip-hop during the SoundCloud rap era of 2014-2019. According to company representatives, however, electronic music is currently the most-streamed and highest-engaging genre on the platform.
SoundCloud shared as much in a presentation during a panel talk at the 2024 edition of Amsterdam Dance Event (ADE). It revealed that almost 22% of streams on the platform are expected to be of electronic music uploads in 2024 — a 6% increase over the 2022 figure.
Year over year, the quantity of electronic music uploads itself is also expected to rise by 21% in 2024. Fans of the genre also engage in different ways more than those of other styles. According to the report, they’re 52% more likely to comment, 104% more likely to share, and 85% more likely to repost the music they stream.
But electronic music covers a wide range — what subgenres perform the best? Per the report, house music is the highest-streamed of the lot in terms of play count, user count, and listening duration. Hardcore comes in second for streams and listening time, while trance comes in second for number of users and third for streams.
SoundCloud was founded in 2007 and gained traction during the EDM boom by offering artists a place to host music releases and DJ mixes alike. The company’s road to solvency wasn’t so straightforward. In 2017, it laid off 40% of its staff, and co-founder Alex Ljung stepped down as part of a deal in which investment firms The Raine Group and Temasek Holdings purchased the ailing company.
SoundCloud went on to lay off 20% of its staff in 2022 and another 8% in 2023. The company forecast that 2023 would mark its first profitable year — and in June, it was reportedly in talks to sell for $1 billion.