MBW Reacts is a series of analytical commentaries from Music Business Worldwide written in response to major recent entertainment events or news stories. Only MBW+ subscribers have unlimited access to these articles. While the music industry fixates on Suno’s AI generation capabilities and ” The companies claim the combination will “create new potential to deepen the artist-fan connection,” though the mechanics remain unclear. What makes the Songkick element of the deal particularly intriguing is that none of Suno’s major investors appear to have existing positions in the live music or ticketing sector. Suno’s latest $250 million round was led by Menlo Ventures with participation from NVentures (NVIDIA’s venture capital arm), Lightspeed, and Matrix. However, Hallwood Media Ventures, the investment arm of the music company founded by former Geffen Records President Neil Jacobson, also participated. The company brings deep music industry expertise through a team that includes Universal Music Group’s ex-CFO Chuck Ciongoli, former Spotify Head of Global Curation Mike Biggane, and Paul Hourican, the former Global Head of Music Operations at TikTok. Interestingly, Hallwood Media has also been expanding its operations to include merchandising services, ranging from product design and creative solutions to touring solutions: The company’s merch division, according to the website, offers capabilities spanning e-commerce fulfillment and what it calls “experiential” services, including album release parties and pop-up activations. Suno’s move into concert discovery also arrives against a backdrop of a booming live music business. Live Nation CEO Michael Rapino predicts that the live music industry will reach $50 billion by 2030, building on historical annual growth of around 8%. Goldman Sachs forecast similar growth in its latest Music in the Air report. Live Nation’s own Q3 revenues climbed 11% year-over-year to $8. 5 billion, underscoring the sector’s momentum and potentially explaining why an AI company would want a foothold in live music infrastructure. Whether Suno intended to build a superfan platform or simply stumbled into one through strategic acquisitions, the result is the same: It has morphed into a $2. 45 billion company, sitting at the intersection of music creation, discovery, and live attendance with a new investor who clearly has ambitions in the merchandise game. Music Business Worldwide.
https://www.musicbusinessworldwide.com/has-suno-just-become-a-very-different-kind-of-superfan-app/