New updates have been reported about ElevenLabs.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
ElevenLabs is accelerating its push beyond voice synthesis with the quiet rollout of ElevenMusic, an iOS app that generates and curates AI-created music, positioning the company directly against emerging music-focused AI platforms. The app, which appeared on the App Store in recent weeks and formally launched on April 1, is central to ElevenLabs’ strategy to diversify its product mix and reduce dependence on voice models that may become commoditized as AI audio technology matures.
ElevenMusic currently operates a freemium model that allows users to create up to seven tracks per day from natural language prompts, with controls for song length, inclusion of lyrics, and stylistic choices, while also enabling discovery and remixing of other users’ tracks through streaming-style features such as live stations, mood-based mixes, and charts. A Pro tier priced at $9.99 per month or $95.90 per year raises the cap to 500 tracks monthly, includes over 500 GB of storage, and unlocks a broader range of styles, widening ElevenLabs’ recurring revenue potential and deepening user engagement.
The launch follows an $11 billion valuation set in February when ElevenLabs raised a $500 million Series C round, capital the company is deploying to build a broader creative AI suite that spans music, advertising, voice-overs, translation, images, video, and sound design. Last August, ElevenLabs introduced its first music-generation model, which it described as commercially safe, and earlier this year it collaborated with leading music producers on an AI-assisted album, signaling an intent to build credibility and partnerships within the music ecosystem rather than operate purely as an infrastructure provider.
The company has already tested consumer-facing models through products like its voice generator and ElevenReader, including a program that pays authors royalties to convert and distribute their books via the platform, providing a template for potential monetization and rights-sharing structures in music. ElevenLabs is now recruiting for consumer marketing roles to scale the music vertical and is considering incentives such as royalties or other rewards for users who create content on ElevenMusic, a move that could help rapidly build a library of AI-native music, differentiate its platform, and create new IP and data assets that support long-term defensibility and revenue growth.

