SoundCloud has acquired Musiio, an artificial intelligence imprint focused on creating technology that can “listen” to music and better predict a song’s success, the company announced this week. The acquisition will allow SoundCloud to further utilize its vast data to pinpoint up-and-coming trends in music and discover rising talent on its artist-first platform.
Musiio, which is based in Singapore, was founded by British CEO Hazel Savage and Swedish CTO Aron Pettersson in 2018. The AI software is capable of “listening” to more tracks than humanly possible, which will allow SoundCloud to make confident trend forecasts that, in turn, increase their “hit-rate” and revenue.
“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,” said Eliah Seton, President of SoundCloud, in a statement. “We are honored to partner with Hazel and Aron and welcome the absolutely brilliant team of innovators at Musiio to the SoundCloud family.”
Savage added, “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 4 years of building Musiio we are now part of SoundCloud.”
Elsewhere in music, BTS has announced that their next album will be an anthology with three new tracks.