TikTok goes on AI music making and machine learning specialist hiring spree - Music Business Worldwide

The AI-powered music-making app business is hotting up. In May, music-making platform Splice, reported to be valued at nearly $500 million, launched an artificial intelligence-powered music app called CoSo, which uses what Splice calls its'Complementary Sounds' AI technology to create music "in split-seconds". Bandlab, meanwhile, the social music-making platform that recently raised $65 million, has an AI-powered app called SongStarter that, it claims, can "generate royalty-free music in seconds". Could TikTok and parent ByteDance be one of the sector's next major players? Back in July 2019, ByteDance acquired Jukedeck, a UK-based AI Music startup that specialized in creating royalty-free music for user-generated online videos.