SoundCloud Buys AI That Predicts Hit Songs
Music hosting, streaming, and discovery company SoundCloud has acquired Musiio, an artificial intelligence business that predicts hit songs.
“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,” SoundCloud wrote in an announcement.
Musiio was founded in June 2018 by British CEO Hazel Savage and Swedish CTO Aron Pettersson, and operates out of Singapore.
Eliah Seton, President of SoundCloud, said: “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.”
Savage and Pettersson will work as VP, Music Intelligence and VP, AI and Machine Learning, respectively.
“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 Savage.
“I am incredibly proud that after 4 years of building Musiio we are now part of SoundCloud.”