Every year, hundreds of millions of dollars in royalties around the world are not paid to the correct rights holders due to incomplete or poor data.
This has been a source of frustration for rights holders for years: when professionals can’t match a track’s metadata to consumption and accurately pay for it, where so-called “black box” money goes.
Chief Executive Officer, Warner Music Group Robert Kinkel Hopefully the industry will address this issue and come up with some suggestions on how to fix it.
Senior executives were interviewed by the president and CEO of NMPA david israel exist State Food and Drug Administration The annual meeting will be held on Wednesday (June 12) at Lincoln Center in New York.
During the keynote speech, Kenl asked share his opinion How positive reform can reach collect societies around the world.
Kenl Tell the audience: “One of the things that bothers me personally is that we’re basically collecting digital revenue the same way we’ve been collecting analog revenue for decades. The speed of it; everything is the same.
He added: “This is something we can all do better together and I think it will help songwriters a lot.”
Kenl It also targets more directly the long-standing problem of mismatched data that results in royalties going into the music industry’s “black box.”
“Collectors associations, PROs, MLCs have a lot of ownership information about shows, but not everything matches up perfectly,” he said.
Kenl The industry is called on to figure out how to “get” global collections associations to “collaborate” to resolve the data mismatch.
He added that “narrowing down” the amount of unmatched data is “very important, not just for faster money flows today” but also for the music industry in the future, especially when artificial intelligence technology becomes more commonplace.
“If we are to correctly set the rules of the road through the platform, we must rely on ownership information.” Jink. “That’s one of the things we really need to focus on.”
Elsewhere in the keynote, Chief Executive Officer, Warner Music Group Shares his thoughts on the challenges facing songwriters today, music companies’ approaches to artificial intelligence, and more. Here’s what we learned…
1) Robert Kyncl believes that if the industry does not treat artificial intelligence correctly, we will face the risk of “human creativity being replaced by machines.”
National Food and Drug Administration david israel ask Robert Kinkel Comment on the problems songwriters see in the age of artificial intelligence.
Kenl He has been outspoken on issues related to artificial intelligence in recent months, appearing before the Senate Judiciary Committee in April to support a U.S. Senate bill to combat unauthorized deepfakes.
During Wednesday’s keynote, he explained that Warner has “two main goals” in artificial intelligence: “One of them is conservation,” and the other “is to grow the pie and figure out positive use cases.” [for AI]”.
He added: “The two can coexist, but we have to pursue both at the same time, and that’s what we’re doing.”
“If we don’t get this right, we run the risk of human creativity being replaced by machines, which is obviously not a world that everyone wants to live in.”
Kenl It also identified three “components” that the company believes are key goals to focus on in solving problems related to artificial intelligence.
The first is the distribution platform where AI content can end up, the second is “the AI engine itself” and the third is governments, which he said involves “lobbying around the world and there are some out there that we see but we I don’t like what I don’t see and want to change it.
He added: “This is a very clear focus. If we don’t get this right, we run the risk of human creativity being replaced by machines, which is obviously not a world that everyone wants to live in.”
“We take this absolutely seriously and think it’s equally important to increasing the value of music, growing the pie and increasing engagement. But [it’s also about] Developing an AI roadmap to protect songwriters’ rights, artists’ rights [and] Do it holistically; and address this issue in a way that we can actually drive progress.
2) Warner’s boss noted that “even though the pie is getting bigger, it’s just getting sliced thinner.”
israelis Also asked Kenl Get his perspective on the challenges facing songwriters today from the perspective of the CEO of a major music company with experience in the industry’s digital platforms (previously serving as Chief Business Officer of YouTube).
“When you’re on the other side of a distribution platform, you judge things based on the total amount you pay,” Kyncl explains.
He added: “That’s how success is measured. That’s why every time Spotify, YouTube [or] apple [are] When it comes to their spending, they’ll say, ‘We paid X amount to industry, and we paid Y amount to industry’. The way songwriters and artists experience this is by looking at their own checks. This is personal. We have this inconsistency of two different views”.
Kenl Continuing: “The Songwriter’s Reason [viewpoint] The difference is that through the democratization of distribution, more people are creating [and] More people upload content.
“So the income pie is being sliced thin. Even though the pie is getting bigger, it’s just being sliced thinner. That’s one of the reasons for the dissonance.
“The other is that a lot of income flows slowly[ly]some of them got stuck, which shouldn’t be [the case] to earn digital income. That [revenue] It should flow faster. Some of these issues we as an industry just need to solve, but we haven’t solved them yet. I’m looking forward to doing this.
3) Kyncl said Warner could “more fully” represent the singer-songwriter if they partnered with the company on music recording and publishing
Robert Kinkel was asked about the “strategic benefits” of a major music company working with talent in recorded music and publishing.
israelis Examples of superstars working with Warner Chappelle and Warner Records include Teddy Swims, Dua Lipa, Zach Bryan and Benson Boone.
Kenl “I think it’s better for them,” explained. This requires a completely different level of complexity, systematicity and understanding of things.
He added: “If you believe we are doing a good job for you on one side, why not get involved in the same work on the other side?
“in the past, [and] Until now, people still [say] I prefer points [their publishing and record deals between companies]. In my opinion, this is not the best way for singer-songwriters because they are under-optimized.
“If they believe they’re getting the same thing from two different companies, yes, but these are super complex and difficult problems to solve.
“If we believe that Warner Chapel is the best place, and that Warner is the best place for you overall, then you should [all] Your eggs are in that basket. It enables us to represent you more fully.global music business
