A new study carried out for collective management organizations (CMOs) in Europe predicts that the global market for generative AI in music will exceed USD $3 billion by 2028 – a tenfold increase from 2023. The study also found nearly unanimous support for payments to rights holders when their music is used to train AI.
Source: Generative AI music market to be worth $3bn by 2028, says report commissioned by Sacem and GEMA