"Every two weeks, users on the AI music platform Suno create as much music as what is currently available on Spotify, according to Suno investor presentation materials obtained by Billboard. Those users are primarily male, aged 25-34, and spend an average of 20 minutes creating the some 7 million songs produced on the platform daily, according to the documents and additional sources.
Suno sees a future where, as it expands its offerings, creators and listeners will not need to leave the app to create, stream or share their music socially. The goal is listed as creating “high-value, high-intent music discovery” and “artist-fan interaction.”
Now, Suno might have the money to fulfill that ambitious vision. Suno announced last week that it had raised $250 million in a C fundraise, led by Menlo Ventures, with additional investors including NVIDIA’s venture capital arm NVentures and Hallwood Media. The round brings Suno’s valuation up to $2.45 billion.
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According to an estimate by Forbes, Sora costs the company as much as $15 million per day to run. According to Suno’s financials, reviewed by Billboard, Suno has spent over $32 million on training its model since January 2024. That breaks down to $32 million spent on compute power and $2,000 spent on data costs — meaning the cost of content, like music, which it uses to train its model.
Suno is currently in the middle of a number of lawsuits concerning the data on which it trains its model. This includes two class action copyright infringement lawsuits, filed by indie musician groups; one lawsuit from Danish rights group Koda; and one from German collection society GEMA. Most significantly, however, is the copyright infringement lawsuit filed by the three major music companies, Sony, Universal and Warner, against Suno for $500 million, claiming widespread copyright infringement of their sound recordings..."
https://www.billboard.com/pro/suno-creates-spotify-catalog-music-two-weeks-pitch-deck/
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