SoundCloud Names Michael Weissman to Succeed Kerry Trainor as Chief Executive Officer in 2021
NEW YORK, Dec. 1, 2020 /PRNewswire/ -- SoundCloud today announced that President, Michael Weissman, will succeed Kerry Trainor as the company's next Chief Executive Officer — effective January 1, 2021. Weissman succeeds longtime colleague and partner, Trainor, who will remain a member of the Board of Directors.
"I'm honored to lead SoundCloud's next chapter," said Michael Weissman, President, SoundCloud. "The company is in one of its most exciting moments in its history, and I'm thrilled to work alongside SoundCloud's team and Board to lean into our unique position and opportunity in music. Kerry and I have worked together for nearly a decade, and I want to thank him for his vision and leadership to reposition SoundCloud for growth and, personally, for his partnership, friendship, and support for me to take the helm."
Since joining the company in 2017, Weissman has been a key leader in driving SoundCloud's growth. He joined the company as Chief Operating Officer, and was promoted to President in 2019. He has been instrumental in expanding SoundCloud as the principal architect of some of the company's key strategic initiatives including its music licensing efforts, its U.S. ad sales partnership with Pandora, and the acquisition and integration of artist services company, Repost Network.
Added Kerry Trainor, Chief Executive Officer, SoundCloud: "When I first organized the group to invest in SoundCloud in 2017, the mission was to ensure the future of one of the world's iconic cultural platforms--for creators, listeners, the team and investors alike. There is only one SoundCloud in this world, which we owe to the vision of our Founders, Alex and Eric. Leading this platform and incredible global team through these transformational years has been an immense privilege. It is a great joy to name--and confirm with the SoundCloud Board--my partner and friend, Mike Weissman, as my successor. I look forward to continuing to work with Mike and the team as a member of the Board."
Since SoundCloud's 2017 investment, the company refocused on its core creator-driven discovery network while driving sustainable financial performance. With the end of 2020 in view, SoundCloud recently achieved its first profitable quarter, and will complete its third consecutive year of accelerating revenue growth with a strong balance sheet to continue investing in growth and strategic initiatives.
Alongside strong business performance, SoundCloud continues to build the world's largest open audio platform with over 250 million tracks, 12 million creators heard every month, and over 80,000 artists now monetizing their music directly with SoundCloud. It is the #2 music app on iOS in the U.S., engaging the youngest, most diverse audience of any major audio service.
"It's been over 13 years since we founded SoundCloud and Kerry and Mike's leadership has been transformative in many ways," said Alexander Ljung, SoundCloud Founder and Chairman of the Board of Directors. "SoundCloud has always been one of the world's most important cultural platforms, but the last three years have shown that it is also a fantastic business. I am excited to watch Mike lead SoundCloud's next chapter and I am thrilled Kerry will remain engaged as a member of our board."
"SoundCloud is a unique, essential music platform for new and developing artists, and since Raine and Temasek's 2017 reinvestment backing Kerry and Mike, they put that differentiation front and center--with results that speak for themselves," said Fred Davis, Partner, The Raine Group, and a member of the SoundCloud Board of Directors. "Kerry's leadership has positioned SoundCloud for years of growth to come, and we all look forward with excitement as Mike steps up to drive the company's next stage. Congratulations, Mike, and thank you, Kerry, as we continue our partnership to build the future of SoundCloud."
"SoundCloud's vital role in music discovery and exceptional tools for audio creators stand out in the digital audio space. As investors, we thank Kerry for his leadership and for SoundCloud's partnership with SiriusXM, and congratulate Mike as he takes on the role of CEO for SoundCloud's next chapter of growth," said Scott Greenstein, President and Chief Content Officer of SiriusXM, and a member of the SoundCloud Board of Directors.
About SoundCloud
SoundCloud is the world's largest open audio platform, powered by a connected community of creators, listeners, and curators on the pulse of what's new, now and next in culture. Founded in 2007, SoundCloud empowers the world's audio creators with the best tools, services, and resources to build and grow their careers. With over 250 million tracks from 30 million creators heard in 190 countries, what's next in music is first on SoundCloud.
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