Germany music entertainment firm SoundCloud announced Tuesday it has acquired Musiio, a Singapore-based music artificial intelligence (AI) firm.
Musiio will amplify SoundCloud’s existing music intelligence capabilities and allow the company to further leverage its vast data to identify what’s next in music trends and talent, SoundCloud said in a statement.
Musiio AI and machine learning technology will also strengthen SoundCloud’s position as the pre-eminent home for music discovery
According to the statement, Musiio’s technology focuses on business to business (B2B) audio reference search (AI that can “listen” to music), automated tagging, and playlisting tools for the music industry. By “listening” to more tracks than a human could ever comprehend and identifying characteristics and patterns, its AI allows users to better predict success, which in turn, can increase their ‘hit-rate’ and ultimately their revenue.
With its leading product suite and by deeper integration with SoundCloud, Musiio will become core to SoundCloud’s discovery experience and help to identify talent and trends ahead of anybody else.
“SoundCloud hosts more music from more creators than any platform on the planet. Acquiring Musiio accelerates our strategy to better understand how that music is moving in a proprietary way, which is critical to our success,
“We are honored to partner with Hazel and Aron and welcome the absolutely brilliant team of innovators at Musiio to the SoundCloud family,” said Eliah Seton, President of SoundCloud.
Based in Singapore, Musiio was founded by British Chief Executive Officer Hazel Savage and Swedish Chief Technology Officer Aron Pettersson in June 2018.
According to the statement, Savage and Pettersson will remain an integral part of operations, coming on board as Vice Presdient, Music Intelligence and Vice President, AI and Machine Learning, respectively. SoundCloud will fully integrate Musiio’s employees who will retain their positions.
“SoundCloud is not only a legendary household name but also an artist forward business that I believe is the future of the new, holistic music industry. I am incredibly proud that after four years of building Musiio we are now part of SoundCloud,” said Hazel Savage, Chief Executive Officer of Musiio.
SoundCloud is a next-generation music entertainment company, powered by an ecosystem of artists, fans and curators on the pulse of what’s new, now and next in culture. Founded in 2007, it is an artist-first platform empowering artists to build and grow their careers by providing them with the most progressive tools, services, and resources. The company has over 300 million tracks from 30 million creators heard in 190 countries.
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