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 identify emerging music trends and discover emerging talent on its artist-focused 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 able to ‘listen’ to more tracks than humanly possible, which will allow SoundCloud to make reliable trend predictions which in turn increase their “hit rate” and revenue.
“SoundCloud hosts 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 exclusive ways, which is critical to our success,” Eliah Seton, President of SoundCloud, said in a statement, “We are honored to partner with Hazel and Aron and welcome Musiio’s absolutely brilliant team of innovators to the SoundCloud family.”
Savage 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.
Elsewhere in music, BTS announced that their next album will be an anthology with three new tracks.