Creator Tools Industry
An overview of the creator tools industry for music production, including market size, key players, industry trends, and number of users.
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- As of 2018, SoundCloud's revenue had reached $100 million, but the company was struggling.
- The company has 76 million monthly users, 20 million music creators, and 180 million music tracks.
- SoundCloud is valued at $700 million and has raised $193 million.
- SoundCloud is often mentioned in the music streaming market, rather than the music creation market, which appears to be less prominent in terms of market reporting.
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Our initial research suggests that the music creator tools market that encompasses companies such as SoundCloud is a fragmented and relatively niche market in terms of market reporting, making it a challenging industry to evaluate. Based on our initial findings, it appears that the best way to evaluate the market may be to look at a sampling of the individual companies operating in this market. Therefore, we would recommend continuing the research with a competitive landscape of SoundCloud, BandCamp, Soundtrap, Soundation, SnapJam, and AudioMack, including their revenue (where available, as these are likely private companies), services/features, pricing, and number of users.
In addition, we would recommend assessing the total addressable market by exploring the number of independent songwriters and musicians in the United States, as these would be the target audience for this service.
Finally, we would recommend further research to explore the current trends in the online/DIY music creation market.