SoundCloud has acquired Musiio, an AI music curation firm to improve discovery. The terms and financial details of the deal have not been disclosed.
According to news reports, the Singapore startup built an AI that can “listen” to music faster than any human possibly could, tag the audio and curated playlists. Musiio was founded in 2018 in Singapore.
Ten years ago SoundCloud was the talk of the town however, in the last five years the company is lacking behind as compared to its peers and rivals such as Spotify, Apple Music and TikTok.
The company’s technology helps predict which songs a listener would want to hear next, and if users spend more time on SoundCloud, then the company ultimately profits.
Speaking about the new developments at the company, the streamer’s president said, “SoundCloud is a unique business. Its singular market position as both a music-streaming service for fans and an artists services business is unlike any other streamer. Meaning, it is the only platform that truly holds a direct relationship with artists and listeners.”
SoundCloud is still an important platform for independent artists to upload and distribute their work.