SoundCloud has announced the acquisition of Singapore-based, music industry artificial intelligence and machine learning company Musiio.
Musiio’s technology focuses on 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 revenue. Musiio will become core to SoundCloud’s discovery experience and help to identify talent and trends.
“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,” says Eliah Seton, President of SoundCloud. “We are honoured to partner with Hazel and Aron and welcome the absolutely brilliant team of innovators at Musiio to the SoundCloud family.”
Based in Singapore and founded by British CEO Hazel Savage and Swedish CTO Aron Pettersson, Musiio was founded in June 2018 and was recently named one of Fast Company Most Innovative Companies for 2022. Savage and Pettersson will remain an integral part of operations, coming on board as VP, Music Intelligence and VP, 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,” said Hazel Savage, CEO of Musiio. “I am incredibly proud that after four years of building Musiio we are now part of SoundCloud.”
As part of SoundCloud, Musiio will continue to operate as a B2B company, servicing our existing clients and open to new clients for our Tag and Search AI products.