Welcome to Music Business World’s weekly roundup – where we make sure you catch the 5 biggest stories that have made our headlines over the past seven days. MBW’s review is supported by China Travel Servicehelping more than 500 of the world’s best-selling artists maximize their income and reduce touring costs.
This week, three music majors made moves that weren’t entirely unexpected— sony, commonand Warner – Litigation against artificial intelligence music generator sun and share. The move marks the first major attempt by a record company to rectify alleged unauthorized use of copyrighted songs to train artificial intelligence.
While artificial intelligence tools that can create complete songs in seconds pose an obvious threat to music rights holders, this week we learned about another potential threat: Decline in demand for music streaming services. A YouGov poll in Sweden found that fewer people are paying for music streaming in Spotify’s home country today than two years ago.
In other news this week, we learned believe chief Denis Radgallery – Who is part of the consortium that recently acquired 95% France-based digital music company – is paying attention A “transformative” acquisitionpossibly a music publisher, will be added to Believe’s business ecosystem.
We also learned about record labels, distribution companies and entertainment networks Create a music group Upregulate $165 million In a funding round, this means it was valued at US$1 billionmaking the nine-year-old company a true unicorn.
Finally, a news report this week noted that Youtube Working with sony, common and Warner Empowering music to train new artificial intelligence technologies.
Here’s what happened this week…
1) HOW MAJOR RECORD LABS PLAN TO SPEND BILLIONS ON SUNO AND UDIO (AND WHY IT ALL HAPPENS TO MICHAEL BUBLÉ)
On Monday (June 24), major record companies filed a lawsuit against AI Music Company sun and share There’s no doubt that the music industry sees these types of AI tools as an existential threat.
The lawsuit alleges that the companies’ “unauthorized use of … copyrighted sound recordings threatens to eliminate the existing market for licensing of sound recordings, as well as the future market for licensing of sound recordings to companies that generate artificial intelligence.”
In other words, these technologies—which allow users to create songs in seconds with just text prompts—could destroy the entire music industry.
For the major music rights holder behind the lawsuit, Failure is not an option…
2) Warning? There are fewer paid music subscribers in Sweden than two years ago, according to YOUGOV survey
The recorded music industry is Optimistic about rising prices Premium streaming services in major markets.
However, a new survey From the traditionally important streaming market, Swedenmay give the wider music industry pause for thought.
According to a YouGov survey, 56% of Swedes now pay for premium subscriptions directly or through a bundle.
This number is down from last year 59% of Swedish respondents said they paid for a premium music subscription in 2022…
3) DENIS LADEGAILLERIE regains confidence and aims to acquire huge assets
Prediction: The recorded music industry is likely to see at least one Over $1 billion in acquisitions Distribution and services players over the next 12-24 months.
Surprise: The company behind the acquisition is likely believe.
According to the founder and CEO of Believe, Denis Radgalleryexclusively interviewed by Global Music Business.
Earlier today, Ladegaillerie received a call from MBW following news that the consortium Ladegaillerie co-owns with EQT and TCV now owns 95% Through its recent share tender process, Believe…
4) Create Music Group was valued at US$1 billion and raised US$165 million in investment
Create a music group gained $165 million Minority investment round led by private equity firm Ford FlexpointMBW can reveal.
Unicorn alert! This round of investment values the Los Angeles headquarters at US$1 billiona spokesperson confirmed.
Music Industry Veterans Charles Goldstuck Also joining the round, it is understood that the Flexpoint-led group acquired nearly a fifth of Create.
Create said it would use the money to provide fuel further global expansion and executing an “ambitious acquisition strategy”…
5) YouTube is negotiating with Sony, Universal, and Warner to license music for artificial intelligence tools (report)
Googleof Youtube Talks are ongoing with three music majors – sony, commonand Warner – Licensing their music to train artificial intelligence tools to clone pop artists’ music, according to a report in Music Magazine Financial Times.
YouTube wants to provide a one-time cash advance to acquire the rights to a specific artist’s music, with the artist’s permission.
The idea is to encourage more artists to allow their work to be used to create artificial intelligence music tools. Youtube “Dozens” of artists are expected to participateTwo people familiar with the matter told the Financial Times.
YouTube’s initial efforts to collaborate with artists on artificial intelligence tools appear to be falling short of expectations: only 10 artists Agree to participate in training Dream tracka tool designed to bring AI-generated music to YouTube Shorts, the video platform’s TikTok competitor…
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