Soundcloud has an amazing point of difference. It is the first social media website which succesfully allows individuals to share their own musical creations, much like Youtube allows its users to share their experiences through video, Soundcloud allows its users to share their experiences and interests through music files. Unlike the other social media websites like Facebook, Youtube and others, Soundcloud doesn’t create its revenue through advertisement, it lets users interact and use the website for free and also offers a premium service at a cost. Soundcloud has grown steadily since inception and will clearly continue to do so because since it already has millions of users, it will be very difficult for a new competitor to dislodge Soundcloud from its current position.
Sources: http://www.fastcompany.com/most-innovative-companies/2012/soundcloud