SoundCloud acquires music company AI Musiio

SoundCloud has acquired Musiio, a Singapore-based artificial intelligence-based music curation company founded in 2018.

The news was first reported by Tech Crunchwhich reports that SoundCloud plans to use Musiio’s technology to bolster its own music discovery capabilities.

Terms of the acquisition agreement were not disclosed.

Co-founded by Hazel Savage, who previously worked at Shazam, Pandora and Universal Music, the company claims to have built an AI that can “listen” to music at scale.

Speaking to MBW in December 2020, Wild explained that Musiio’s technology “processes entire audio files” in order to “train the AI ​​to look for patterns.”

Added Wild: “You can use this process to replicate anything that the human ear might be able to recognize, like BPM and genre, how successful something might be.

“Our new technology looks for hits, virality, talent and melodic familiarity and a whole host of other factors that make for great music.”

Musiio secured an undisclosed round of funding in July 2021, which gave the company a valuation of $10 million. That was up from $3.5 million in 2019.

This funding round included investments from Premiumbeat founder Francois Arbor as well as Tileyard Group owner Paul Kempe.

According to Tech CrunchEliah Seton, president of SoundCloud, “believes Musiio’s AI capability will yield particularly compelling results” on the music streaming platform.

Speaking to TechCrunch, Seton said, “SoundCloud is a unique company. Its unique position in the market as a music streaming service for fans and an artist services business is unlike any other streamer.

“That is to say, it’s the only platform that really has a direct relationship with artists and listeners.”

Eliah Seton Warner ADA

“We are honored to partner with Hazel and Aron and welcome Musiio’s absolutely brilliant team of innovators to the SoundCloud family.”

Eliah Seton, SoundCloud

In a press release, Seton said, “SoundCloud is home to more music from more creators than any platform on the planet.

“The acquisition of Musiio accelerates our strategy to better understand how this music evolves in an exclusive way, which is essential to our success.

“We are honored to partner with Hazel and Aron [ Pettersson] and welcome to the absolutely awesome team of innovators at Musiio to the SoundCloud family.

“I am incredibly proud that after 4 years of building Musiio, we are now part of SoundCloud.”

Hazel Savage, Musiio

Hazel Savage, CEO of Musiio, added, “SoundCloud is not only a legendary household name, but also a forward-thinking artist company that I believe is the future of the new holistic music industry.

“I am incredibly proud that after 4 years of building Musiio, we are now part of SoundCloud.”

SoundCloud secured a $75 million investment from SiriusXM in February 2020.

In February, the music streaming platform entered into a joint venture with Solid Foundation, the management and creative services arm of QC Media Holdings, which, according to a press release, will create “custom A&R programs for selected artists, including including development, distribution and marketing and artist services”.The music industry around the world

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