Universal Music Group and ElevenLabs signed a multi-year deal that puts licensed AI music experiences on the roadmap. Their first major-label partnership will support a separate fan platform for remixes, mashups, alternate song takes, and personalized vocals, while both companies build more artist-focused audio tools.
ElevenLabs enters the deal carrying an $11 billion valuation after a $500 million Series D, well above Suno’s $5.4 billion mark from a $400 million round. Music API and ElevenMusic will stay separate from the UMG project. Mati Staniszewski says artist payment and consent sit at the center of the plan.
Sir Lucian Grainge framed the partnership around discovery, fan engagement, and new creator revenue. ElevenLabs has also passed $500 million in annual recurring revenue, rising from $350 million. Staniszewski and Piotr Dąbkowski founded the company, which operates from London and New York.
ElevenLabs enters the deal carrying an $11 billion valuation after a $500 million Series D, well above Suno’s $5.4 billion mark from a $400 million round. Music API and ElevenMusic will stay separate from the UMG project. Mati Staniszewski says artist payment and consent sit at the center of the plan.
Sir Lucian Grainge framed the partnership around discovery, fan engagement, and new creator revenue. ElevenLabs has also passed $500 million in annual recurring revenue, rising from $350 million. Staniszewski and Piotr Dąbkowski founded the company, which operates from London and New York.
