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United States President Joe Biden’s executive order on artificial intelligence, alongside recent UK legislation, aims to ensure secure and ethical AI development. Although the order encompasses a broad spectrum of AI implications, it holds significant relevance for the music industry in copyright protection and intellectual property concerns.
Recently, music publishers pursued legal action against AI company Anthropic, targeting the alleged copyright infringement involving lyrics and its chatbot, Claude. Notably, Concord and UMG subsidiaries were among the complainants.
Universal Music Group (UMG) unveiled robust Q3 financial results, showing a 3.3% YoY increase in revenues, amounting to €2.75 billion. When adjusted for constant currency, the growth expands to 9.9%. Yet, it was UMG’s Chairman and CEO, Sir Lucian Grainge’s remarks during the earnings call that sparked industry-wide attention.
Spotify has achieved its first quarterly profit since early 2022, swinging to a €32 million operational profit in Q3, up from a €228 million loss a year prior. CEO Daniel Ek credited newfound “efficiencies” and cost-cutting for these improved margins. The music streaming giant enacted hiring freezes, staff cuts and ended projects like ‘Spotify Live’ to reduce costs. But the company also raised subscription prices for the first time ever, from $9.99 to $10.99 in the US.
In a long-anticipated move, Spotify is preparing to enact substantial changes to its royalty payout model in Q1 2024, with the aim of redirecting $1 billion in royalty payments over the next five years to what it deems ‘legitimate’ artists and rightsholders. This transformative blueprint has been under discussion with various music rightsholders. The streaming giant, known for its pro-rata royalty system (Streamshare), will introduce three pivotal changes, with the overarching goal of addressing issues that have hindered royalty distribution to working artists.
YouTube Music is once again venturing into the realm of generative AI. However, this time the focus is not on generating music but rather the images that accompany it. The platform is rolling out an experimental feature for English-language users in the US that uses generative AI to create customized playlist cover art. This feature, according to T. Jay Fowler, Director of Product Management, provides a guided experience for users, offering various visual themes and options to craft unique cover art that reflects the individuality of their playlists.
The European Union’s efforts to become the first region to implement comprehensive regulations for artificial intelligence technologies appear stalled, as disagreements between key policymakers have pushed back the timeline for finalising the landmark AI Act. According to reports, the draft legislation may not be agreed upon until December due to unresolved issues, hampering the EU’s ability to assert global leadership in governing this rapidly advancing field.
US-based startup, Infinite Album, is harnessing generative AI technology to cater to the gaming community. This innovation involves the creation of real-time music, specially designed for Twitch creators to use as soundtracks in their gaming streams, without the risk of triggering copyright takedowns. The company won accolades at the 2021 Midemlab contest and subsequently launched its beta tool in March 2022. Now, it has received an official launch at TwitchCon Las Vegas, marking a significant step in its growth.
TikTok Music, the premium music streaming service, has now expanded its services to Australia, Singapore, and Mexico. Following its beta rollout in these markets in July, it’s officially open to the public. In Brazil and Indonesia, the music streaming service holds licenses from all three major record labels, including Sony Music, Warner Music Group, and Universal Music Group. However, in the recent expansion, the service lacks Universal Music Group’s catalog.
Universal Music Publishing Group spearheaded a lawsuit alleging systematic copyright infringement against AI firm Anthropic and its Claude chatbot. Joining Universal were co-plaintiffs Concord Music Group and ABKCO Music, seeking potentially tens of millions in damages for unauthorized use of song lyrics. The suit asserts Anthropic scraped vast amounts of text, including music lyrics, from the internet to train its models without permission.
