Mikey Shulman, co-founder and CEO of Suno, announced on LinkedIn that the AI music generator has reached 2 million paid subscribers and achieved $300 million in annual recurring revenue.
Just three months prior, Suno secured $250 million in funding, valuing the company at $2.45 billion. At that time, Suno had reported $200 million in annual revenue, indicating significant growth in a short period.
Suno’s technology enables users to create music through natural language prompts, allowing those with minimal experience to easily generate audio. This has raised concerns from musicians and record labels, leading to lawsuits for copyright infringement, as Suno’s AI model was likely trained on existing music. However, Warner Music Group settled its lawsuit and agreed to a deal permitting Suno to use licensed music from its catalog in its models.
Suno has produced synthetic music that convincingly mimics real recordings, topping Spotify and Billboard charts. Telisha Jones from Mississippi used Suno to transform her poetry into the popular R&B track “How Was I Supposed to Know” and secured a record deal with Hallwood Media reportedly worth $3 million.
Despite this success, many musicians, including Billie Eilish, Chappell Roan, and Katy Perry, have publicly opposed the use of AI in music.