Photo credit: Markus Spiske
Artificial intelligence “music provider” WAVs has announced a $20 million funding round that it claims will be the “next generation of music streaming.”
WAVs AI, which bills itself as the “world’s leading AI music provider” and says it counts Apple Music, Amazon Music and others as customers, recently announced plans for massive growth and related expansion. New York City-headquartered Regal Investments (the Canadian division of Toronto’s Regal Holdings) led the round and used the opportunity to emphasize its commitment to “staying ahead of the curve in the ever-evolving music industry.”
“With a strong understanding of the direction of the industry, established companies face serious challenges with AI-powered platforms,” the investment firm said in its official announcement. “By investing in WAVs AI, Regal Investments is poised to position itself at the forefront of this seismic shift, leveraging the next generation of music streaming.”
There are currently a number of popular (AI-generated) vocal tracks on the WAVs AI platform, including collaborations between “WKND” and “Ariana Grande”, former AI act and “Drake” and others. Meanwhile, fans can listen to John Lennon’s “Imagination” performed by Ed Sheeran and Coldplay’s “Yellow” performed by Paul McCartney with a click or tap.
Also included – although there isn’t much featured content at the moment – are podcast and community categories on WAVs AI platform, as well as a store tab. Interestingly, in addition to asking listeners to sign up — an account isn’t necessary to access the ad-free tracks, however — the artificial intelligence music service’s home page similarly encourages artists to “verify now” and make themselves “royalties for likeness.” , AI entertainment and more.
Expanding on that last point, WAVs AI’s “spokesman” Tyler Herrera said in a statement to continue his company’s goals to “strike deals with artists and record labels, expand our user base, and position WAVs AI as a dominant force in the music streaming industry.”
And Roble Regal, the namesake of Regal Investments, put it bluntly, saying in his own opinion that the music scene is “on the cusp of a revolution fueled by the advancement of artificial intelligence.” (In a short track two years ago, Roble said the financier “manages billions of dollars in the market for the Saudis.”)
“I firmly believe that traditional music companies will be dethroned by new AI-driven platforms in the coming years,” continued Reuben. “At Regal Investments, we are committed to identifying and supporting infrastructure that breaks the rules. Our investment in WAVs AI demonstrates our commitment to leading the way in this era of change.
Especially since AI-like tracks have largely been removed from streaming platforms like Spotify and Apple Music — while continuing to garner millions of plays on YouTube and elsewhere — it’s worth keeping an eye on the WAVs AI build in the coming months.
Artificial intelligence is now on the rise in radio (logic and data suggest that AI “individuals” will advance in the sphere), and major labels are reportedly taking steps to stem the tide of unauthorized AI. It will be released. But this initiative hasn’t stopped artists including Paul McCartney, Grimes and others from investing in artificial intelligence.
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