In this episode of Run the Numbers, CJ sits down with Dan Bettes, CFO of SoundCloud, at the New York Stock Exchange. Dan breaks down how SoundCloud operates as a two-sided music marketplace, how he thinks about liquidity between fans and creators, and why great finance leaders need to make forecasting feel owned by the business

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LINKS:

Mostly Talent: https://mostlymetrics.typeform.com/to/cLTxtAsN

Guest: https://www.linkedin.com/in/danielbettes/

Company: https://soundcloud.com/

CJ: https://www.linkedin.com/in/cj-gustafson-13140948/

Mostly metrics: https://www.mostlymetrics.com

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TIMESTAMPS:

0:00 Preview and Intro

2:17 First stock: a Vanguard index fund

3:13 Most memorable IPO: Groupon

4:54 Benefits of going public have changed

5:47 SoundCloud and the music industry

7:21 Three eras: physical, streaming, creator platform

8:49 Streaming unbundled the album

10:03 Artists don't need labels anymore

11:40 Sponsors — Aleph | RightRev | Rillet

15:00 SoundCloud's two-sided business model

16:23 Touring replaced the album

17:17 First metric every morning: net adds

18:31 DAU vs. MAU: it's a funnel

19:14 Viral moments and exogenous pops

20:10 LTV and the subscription funnel

21:38 Sponsors — EY | SpendHound | Brex

24:35 Tops-down vs. bottoms-up: reconcile both

26:21 Revenue is an output

27:45 Handling forecast deviation

29:24 How often to reforecast

30:23 The final boss: indirect cash flow statement

33:09 Cash vs. EBITDA fluency

35:04 Plain English and the power of reps

36:52 Tailor the message to the audience

37:45 Lightning round

37:45 Screwed up: miscounted corn at a banquet

38:41 Lean into discomfort

39:55 Craziest expense: a post-flight massage

40:17 Credits

SoundCloud CFO Dan Bettes on Marketplace Liquidity, Music, and Forecasting

Run the Numbers

SoundCloud CFO Dan Bettes on Marketplace Liquidity, Music, and Forecasting