Other recent deals include TikTok's agreement with music licensing service Chordal, Symphonic's pact with IP enforcement service Third Chair and more.
One user noticed the terms of service changed to allow music to "inform, train develop or serve as input" for AI, but a SoundCloud spokesperson says no such usage has yet occurred.
SoundCloud users are much more attuned to new releases than the average listener, with current music accounting for more than 46% of plays on the platform in recent years.
SoundCloud is also showing its support for ethical AI use in the music business by signing AI for Music's "Principles for Music Creation" with AI pledge.
The genre is expected to account for nearly 22% of all plays on the streaming platform in 2024, the company says.
Labels, streamers and promoters want to get superfans to spend more money, each with a different approach. Which will be more effective?
Music economist Will Page cites three case studies to examine the merits of SoundCloud’s approach to calculating royalties.
"The stakeholders have major investments; it's time," says a former employee.
