SoundCloud thinks that the next big thing on its platform will rely on AI and machine learning.
As the firm announced the acquisition of Musiio, which would enhance SoundCloud’s current music intelligence capabilities and assist the business in identifying what’s next in music trends and talent.
Musiio’s technology focuses on business-to-business audio reference search, which includes AI that can “listen” to music, automatic tagging, and playlisting tools for the music industry. The following is SoundCloud’s explanation of the significance of this acquisition:
By “listening” to more music than a person could possibly grasp and finding traits and trends, its AI enables users to better forecast success, which may raise their ‘hit-rate’ and, eventually, income. Musiio will become key to SoundCloud’s discovery experience and assist in finding talent and trends ahead of anybody else, thanks to its leading product portfolio and greater integration with SoundCloud.
The intriguing aspect is that Apple’s Shazam uses a different technique. By the start of 2022, the audio tool had revealed its breakthrough artist predictions for the current year and said that it depends on “the curiosity of ordinary fans to convey a tale of what’s next:“
Shazam discovers artists from all across the globe, leveraging the inquisitiveness of regular fans to tell the tale of what’s next. Each year, a new crop of musicians seems to govern their own corners of the music ecosystem, driving fans to seek out the songs they can’t stop listening to.
“Musiio accelerates our approach to better understand how that music is flowing in a proprietary manner, which is crucial to our success,” says SoundCloud president Eliah Seton.