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If Switzerland-headquartered tech firm Utopia Music wasn’t beforehand in your radar, it positively will probably be after this month.
In the beginning of September, the agency made the high-profile appointment of Downtown‘s former EVP of Enterprise Growth, Roberto Neri, as Chief Working Officer, adopted by different large hires together with Paul Gathercole as Chief Information Officer, Åsa Carild as Head of Platform, and Paul Stuart as Chief Authorized Officer.
Now, the agency, which music business sources inform us has raised tens of hundreds of thousands in investor capital so far, has acquired Quincy Jones-backed emotional knowledge enrichment firm, Musimap.
Musimap’s automated engines that energy music discovery, emotional profiling and metadata enrichment.
The agency’s APIs use proprietary AI to generate emotional metadata for purchasers. This can be utilized to seek for related songs, robotically create playlists primarily based on sure genres, moods, and so forth., and match playlists with persona profiles.
Musimap at the moment provides three core merchandise — MusiMatch, MusiMotion and MusiMe — with purchasers together with Common Music Group, Vevo, Warner Music Group, BMG and lots of extra high-profile stakeholders within the international music area.
Utopia says it’s on a mission to revolutionize the monitoring of music consumption – and consequent royalty funds to rights-holders – worldwide.
It additionally claims that its know-how provides “never-before-seen entry and reporting depth”. Utopia says that the acquisition of Musimap will strengthen its infrastructure, which it says “will advance creator rights and allow new alternatives for the recordings enterprise”.
Utopia already employed over 100 individuals worldwide throughout workplaces in Zug, Helsinki, Stockholm, London and New York previous to the Musimap buyout. With Musimap onboard, Utopia’s workforce has now risen to almost 150 workers, and its geographic footprint has expanded to incorporate Belgium, central Europe and Canada.
Musimap says that it’s going to proceed to service its present clients as part of the Utopia group of companies, because it strikes in the direction of its objective of tagging 80% of the worldwide music catalog with emotionally enriched metadata over the following few years.
“The acquisition of Musimap represents yet one more milestone on our journey.”
Mattias Hjelmstedt, Utopia
Utopia Chairman of the board, Mattias Hjelmstedt, stated: “The acquisition of Musimap represents yet one more milestone on our journey of turning into the world’s most well-liked know-how supporting your entire music business by creating new income streams, consolidating knowledge and decreasing administration whereas providing a broad spectrum of various, but deeply modern providers throughout the globe.
“It is a key enabler in making the world a greater place for creators by Truthful Pay For Each Play.”
“The individuality of Musimap is mirrored not solely on this acquisition, but in addition in present collaborations with DSPs, artists, labels, promoting companies and voice-controlled speaker producers.”
Andreas Spechtler, Musimap
Andreas Spechtler, Govt Chairman of the board of Musimap, added: “Musimap’s AI know-how and the group’s expertise in music and emotional knowledge is really distinctive and recognised by clients like Warner Music and supported by music icons like Quincy Jones.
“The individuality of Musimap is mirrored not solely on this acquisition, but in addition in present collaborations with DSPs, artists, labels, promoting companies and voice-controlled speaker producers.
“With the acquisition by Utopia Music, Musimap’s know-how will grow to be a world customary for emotional AI in music that may supercharge the worldwide music business. The Musimap group is proud to grow to be a key part of the expansion and success story of the Utopia Music household.”
“Teaming up with Utopia will undoubtedly unlock new doorways for Musimap, and permit it to proceed altering the way in which we eat music, and empower creators, by enhanced discoverability.”
Quincy Jones
Quincy Jones stated: “Musimap’s know-how is the FUTURE and it makes my soul smile to see it grow to be the AI spine of one other tech large.
“Teaming up with Utopia will undoubtedly unlock new doorways for Musimap, and permit it to proceed altering the way in which we eat music, and empower creators, by enhanced discoverability.
“From the seems to be of my persona profile, as supplied by MusiMe, I can inform this machine has sharpened its left mind!! Large-time props to the group and I sit up for persevering with within the exploration of music by feelings collectively.”
Music Enterprise Worldwide
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