The competition for streaming ad dollars just increased with the announcement from SoundCloud that it would start selling ads to its millions of users who go to the site to listen to music. SoundCloud has 175 million people who listen to music on the site each month. The L.A. Times reports that musicians, including major artists such as Lorde and Drake, have used it as a portal to share their latest tunes, and DJs have used it to make their remixes and mash-ups go viral. Some of the revenue will go to record labels and artists that sign up for its advertising program. The site known as YouTube with just the audio has raised $100 million from investors including Kleiner Perkins Caufield & Byers, Union Square Ventures, and Index Ventures.
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