Music-minded financial tech company, Utopia Music has acquired Musimap, a metadata enrichment startup that uses proprietary AI to generate “emotional” data for clients. This new data can be used to match playlists with personality profiles; search for similar songs; and create playlists based on certain genres, moods, and beyond..
“The acquisition of Musimap represents yet another milestone on our journey of becoming the world’s preferred technology supporting the entire music industry by creating new revenue streams, consolidating data and reducing administration while offering a broad spectrum of diverse, yet deeply innovative services across the globe,” said Mattias Hjelmstedt, Utopia Chairman of the board. “This is a key enabler in making the world a better place for creators through Fair Pay For Every Play.”
Click here to read more about the acquisition from Music Business Worldwide.