SoundCloud has acquired AI music tech company Musiio.
The start-up has featured on Music Week in recent months as it launched new products and established more partnerships for its machine learning tech, which enables rights-holders to gain greater control over their catalogue.
“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,” said a statement.
Musiio’s technology focuses on B2B audio reference search (an AI that can effectively “listen” to music), automated tagging, and playlisting tools for the music industry. By identifying characteristics and patterns, Musiio’s AI allows users to better predict success for tracks.
Based in Singapore and founded by British CEO Hazel Savage (pictured) and Swedish CTO Aron Pettersson, Musiio was founded in June 2018.
Musiio will become core to SoundCloud’s discovery experience and “help to identify talent and trends ahead of anybody else”, according to the statement.
“SoundCloud hosts more music from more creators than any platform on the planet,” said Eliah Seton, president of SoundCloud. “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 honoured to partner with Hazel and Aron and welcome the absolutely brilliant team of innovators at Musiio to the SoundCloud family.”
Savage and Pettersson will remain an integral part of operations, joining SoundCloud 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.”