SoundCloud has debuted a new premium music streaming service called SoundCloud Go. The platform is meant to act as a direct competitor to Spotify and Apple Music.
SoundCloud Go has a 30-day free-trial period and is then $9.99 per month.
The service will be ad-free, allow offline playback, and give access to a broader catalog of music.
Spotify and Apple Music both offer a $9.99 monthly package, which has become the industry standard. Apple also offers a $14.99 family pay option for multiple devices.
If you sign up for SoundCloud Go through the Apple store it will cost you $12.99 because of Apple charges.
SoundCloud has been working for months to sign deals with Universal, Sony, and Warner.
Reports have suggested that the company lost $44.19 million in 2014.
SoundCloud has 175 million users and the company’s goal will now be to convert as many of those users as possible.
“Looking at conversion rates, it’s likely they’ll end up with low single digits,” Mark Mulligan, a Midia Research analyst, told Billboard.
Spotify counts 30 million paid users among its ranks and Apple Music has around 11 million.
SoundCloud’s CEO Alex Ljung thinks this new service’s secret weapon will be the ability to integrate “premium” songs and the “free” tracks, like live and rough cuts, that SoundCloud built its reputation on.
Pandora is also planning on moving into the on-demand music space as quickly as possible.