AI Licensing Deals Poised to Transform Music Industry
Universal Music and Warner Music are on the verge of historic AI licensing agreements with various technology companies, including startups and tech giants like Google and Spotify. These deals aim to create a micropayment system for AI-generated and trained tracks, similar to current streaming models.
Universal Music and Warner Music are in advanced negotiations with artificial intelligence firms for groundbreaking licensing agreements, according to a report by the Financial Times.
The expected deals could be finalized in the coming weeks with startups such as ElevenLabs, Stability AI, Suno, Udio, and Klay Vision. Tech giants like Google's Alphabet and Spotify are also said to be in discussions.
The negotiations focus on how music is licensed for AI-generated tracks and training models, aiming to establish a payment structure akin to streaming micropayments. The use of AI in creative industries has sparked legal challenges, with complaints about unlicensed use of copyrighted materials.
(With inputs from agencies.)
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