Suno has reached 2 million paid subscribers and $300 million in annual recurring revenue, co-founder and chief executive Mikey Shulman said in a LinkedIn post, marking an increase from figures disclosed three months ago.
In its previous funding announcement, Suno said annual revenue had reached $200 million. The company raised $250 million in that round, which valued it at $2.45 billion. The earlier revenue figure was reported by The Wall Street Journal, indicating that Suno’s annual recurring revenue has grown by $100 million in a short period.
Funding And Revenue Growth
The $250 million funding round closed three months ago at a $2.45 billion valuation. At that time, Suno stated that annual revenue stood at $200 million.
Shulman’s latest disclosure places current annual recurring revenue at $300 million, alongside 2 million paying subscribers.
Copyright Disputes And Licensing Agreement
Suno allows users to generate music from natural language prompts, enabling individuals with limited musical experience to produce audio tracks.
The technology has prompted lawsuits from musicians and record labels alleging copyright infringement, arguing that Suno’s AI models were likely trained on existing recorded music.
Warner Music Group recently settled its lawsuit against Suno and reached an agreement permitting the company to launch models trained on licensed tracks from Warner’s catalog.
Chart Success And Industry Backlash
Suno-generated music has reached charts on Spotify and Billboard.
Telisha Jones, a 31-year-old from Mississippi, used Suno to convert her poetry into the R&B track “How Was I Supposed to Know,” which went viral. She later signed a record deal with Hallwood Media reportedly worth $3 million.
Several musicians have publicly criticized the use of AI in music production, including Billie Eilish, Chappell Roan and Katy Perry.
Featured image credits: DALL-E by ChatGPT
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