After a year 2016 more than tumultuous, the 2015 financial report doesn’t spell good news for the music uploading platform.

According to a new filing at Companies House (UK), despite the launch of its $9.99-per-month premium subscription service "Soundcloud Go", in the US, UK and Germany last year the platform has suffered a severe cash-haemorrhage and will continue to suffer the consequences of it in the coming months.

Soundcloud may run out of cash earlier than December 31, 2017

SoundCloud Ltd’s revenues grew 21.6% to €21.1m ($22m) in 2015 but its net losses accelerated 30.9% to €51.22m ($52m). A statement from co-founder Alexander Ljung revealed that Soundcloud's financial position remains on the basis of how successful its subscription service would be, which appear today as a true flop.

The assumption of a successful launch of the new subscription service is the key element of [our] financial projections for the next three years… [This] bears financial risks regarding the operating results and cash flows of the group.

The occurrence of these risks can seriously affect the ability of the group to generate sufficient cash to cover the planned expenditures and could require the Group to raise additional funds which have not yet been agreed.

Whilst the directors believe that the Group will have sufficient funds to continue to meet its liabilities through 31 December 2017, the risks and uncertainties may cause the company to run out of cash earlier than that date, and would require the Group to raise additional funds which are not currently planned. These matters give rise to a material uncertainty about the Group’s ability to continue as a going concern. - Alexander Ljung, Soundcloud co-founder

Universal, Sony and Warner own stakes in SoundCloud Ltd.

According to Music Business Worldwide, it seems some major companies have stakes in SoundCloud. After having sifted through SoundCloud’s latest financial filings — Universal Music Leisure Ltd., Sony Music Entertainment, and Warner Music Inc. all own stakes in the company; looking at approximate estimates, Universal owns about 4%, Sony owns about 3%, and Warner’s owns between 1% and 2%. With rumors swelling that Google would be interested in purchasing Soundcloud which claims the Silicon Valley native is eyeing the Berlin-based company for a whopping $500 million.

This means that if SoundCloud did sell for the reported amount, each company would get roughly $45 million. (To break it down a little further, Universal would get $20 million, Sony would get $15 million, and Warner would get $10 million — all based on their approximate ownership in SoundCloud.) It can be assumed, though, that Google may plan to implement SoundCloud’s streaming algorithms into their in-house code to offer more tools to listeners, as well as acquiring that massive number of users may make Google Play Music more appealing to Android users. Wait and see..