SoundCloud Ltd. has become the first of the largest on-demand music services to cut subscription prices to $4.99 per month, a step many music industry executives say is needed to turn users of YouTube and other free services into paying customers. SoundCloud, which earlier this year warned it may run out of money without more paying customers, is undercutting the $9.99 per month cost of a subscription of larger rivals Spotify Ltd. and Apple Inc. The plan offers 120 million songs, no ads and the ability to listen offline.