Paris-based startup Mistral AI is stepping up into the big leagues, launching Mistral Large to compete with other top-tier large-language models and chatbot intended to rival market leader Open AI’s ChatGPT. “Mistral Large achieves strong results on commonly used benchmarks, making it the world’s second-ranked model generally available through an API,” the company said.
How an AI feud is roiling the music industry
he biggest record labels in music are trying to figure out how to grapple with the rise of artificial intelligence. When Universal Music Group (UMG) pulled its songs from TikTok on Feb. 1 partly because of a concern artists weren’t being protected from artificial intelligence, it triggered a debate across the industry about whether to embrace the new technology, fight it, or both.
AI ‘dream girls’ are coming for porn stars’ jobs
Since the first AVN “expo,” in 1998, adult entertainment has been overtaken by two business models: Pornhub, a free site supported by ads, and OnlyFans, a subscription platform where individual actors control their businesses and their fate. Now, a new shift is on the horizon: artificial intelligence models that spin up photorealistic images and videos that put viewers in the director’s chair.
Songwriters and publishers to receive nearly $400m payout after streaming royalty ruling
The windfall stems from the Copyright Royalty Board’s Phonorecord III determination in August 2023, which established higher royalty rates for music streamed between 2021 and 2022. This means streaming giants like Spotify, Amazon Music, YouTube, and Pandora underpaid songwriters and publishers by $419.2 million, according to information from the Mechanical Licensing Collective (MLC), highlighting underpayments during the 2021-2022 period.
Source: Songwriters and publishers to receive nearly $400m payout after streaming royalty ruling in the US
American Federation of Musicians Reaches Tentative Deal with AMPTP
The American Federation of Musicians has struck a tentative agreement with the Alliance of Motion Picture and Television Producers, reaching a deal that union leaders hailed as “a watershed moment for artists” that includes residuals for made-for-streaming content and protections against the use of AI. The AFM announced the tentative agreement one day after the sides resumed contract negotiations that began in January.
Tyler Perry halts $800m studio expansion after being shocked by AI
The US film and TV mogul said he was in the process of adding 12 sound stages to his studio but has halted those plans indefinitely after he saw demonstrations of Sora and its “shocking” capabilities. “All of that is currently and indefinitely on hold because of Sora and what I’m seeing,” Perry said. “I had gotten word over the last year or so that this was coming, but I had no idea until I saw recently the demonstrations of what it’s able to do. It’s shocking to me.”
Source: Tyler Perry halts $800m studio expansion after being shocked by AI
OpenAI’s Video-Generating AI Is “Doomed to Failure,” Says Meta’s Top AI Scientist
Sora, OpenAI’s new AI model for generating video, has become the talk of the town since its release last week. But Yann LeCun, chief AI scientist at Meta, doesn’t think the much-hyped text-to-video model is all that. In particular, LeCun takes issue with OpenAI’s claims that its work with Sora will eventually enable the building of “general purpose simulators of the physical world.” If that’s the case, LeCun argues
Source: OpenAI’s Video-Generating AI Is “Doomed to Failure,” Says Meta’s Top AI Scientist
Reddit in AI content licensing deal is with Google
Social media platform Reddit has struck a deal with Google to make its content available for training the search engine giant’s artificial intelligence models, three people familiar with the matter said. The contract with Alphabet-owned Google is worth about $60 million per year, according to one of the sources. Bloomberg previously reported Reddit’s content deal without naming the buyer.American Federation of Musicians, AMPTP Resume Contract Talks Amid Fight Over Streaming Residual Fees
As the American Federation of Musicians and the Alliance of Motion Picture and Television Producers resumed contract negotiations Wednesday, the AFM has released statistics that shed light on the changing nature of employment for industry musicians who play on many of the films and TV shows now being made.
Kobalt Positions $267M Asset Backed Security
Kobalt Music Group will issue one class A tranche, an A-2 piece rated A- from Kroll Bond Rating Agency, with an expected final maturity in April 2024. Musical publishing rights support all of the royalties with an estimated third-party valuation finding the catalog to be worth $410 million as of September 30, 2023. The valuation included an assumption of an 8.25% discount rate for songs at least 18 months old at and 11.75% for songs between three and 18 months old at valuation.