Suno co-founder and CEO Mikey Shulman shared on LinkedIn that the AI music generator has attracted 2 million paying members and generated $300 million in annual recurring revenue.
Just three months ago, Suno announced a $250 million funding round, valuing the company at $2.45 billion. At the time, Suno told the Wall Street Journal that annual revenue had reached $200 million. This would indicate that the company has achieved significant growth in a short period of time.
Suno allows users to create music using natural language prompts, making it easy for even the most inexperienced to generate audio. This has raised concerns from musicians and record companies, who are suing Suno for copyright infringement, as Suno’s AI models were likely trained on pre-existing recorded music. However, Warner Music Group recently settled the lawsuit and instead reached a deal that allows Suno to release models using licensed music from its catalog.
Suno has produced synthetic music that sounds so realistic that it tops the charts on Spotify and Billboard. Telisha Jones, a 31-year-old from Mississippi, used Snow to turn her poetry into the viral R&B song “How Was I Supshed to Know,” which reportedly landed her a record deal worth $3 million with Wholewood Media.
Still, many musicians have spoken out against the use of AI in music, including Billie Eilish, Chapel Lawn, and Katy Perry.
