Finance

SAG-AFTRA Wraps a Month of Studio Talks With No Deal, Will Resume in June

The two sides have addressed an array of subjects, but the thorniest one — as was the case during the 2023 strike — may be artificial intelligence. SAG-AFTRA is looking to assert some control over the use of “synthetic performers” — digital avatars that bear no resemblance to a real-life actor. [R]eal-life actors gain little or nothing from their use, and also have scant leverage to stop studios from using their performances to train AI systems.

Source: SAG-AFTRA Wraps a Month of Studio Talks With No Deal, Will Resume in June

Quincy Jones estate sells catalog and ancillary rights to HarbourView

HarbourView said that the deal includes Jones’ recorded music and publishing assets, as well as other ancillary rights, including his participation in The Fresh Prince of Bel-Air. As part of the transaction, HarbourView notes that it will “work in close partnership with the Quincy Jones Estate on go-forward initiatives tied to Jones’ name, image, and likeness”. HarbourView said that “additional announcements and tributes will follow in the coming weeks 

Source: Quincy Jones estate sells catalog and ancillary rights to HarbourView

WGA to Seek Payment for AI Training on Scripts as Talks With Studios Set to Begin

John August, co-chair of the WGA Negotiating Committee, said Tuesday that the union will seek to affirm the principle that writers should be paid for derivative uses of their work, including AI training. In the last go-round, the Alliance of Motion Picture and Television Producers refused to accept any limitations on the use of scripts — which they own — to train AI models.

Source: WGA to Seek Payment for AI Training on Scripts as Talks With Studios Set to Begin

First Study of Investor Sentiment Reveals Inner Workings of Music Investment

Corporate and financial strategic communications firm Fourth Pillar has announced the findings of its inaugural Music Investment Barometer, the first dedicated study designed to track sentiment across the global music investment community. The Barometer illustrates that music rights dealmaking is expanding in volume, appeal, and sophistication, driven by music’s positive growth outlook.

Source: First Study of Investor Sentiment Reveals Inner Workings of Music Investment

UMG boss sees AI as more than just a risk for media industries

UMG’s earnings call included some interesting nuggets on the company’s AI strategy, including chairman and CEO Sir Lucian Grainge delivering a carefully-tuned message to investors. “I’m very aware that a large swath of the investment community looks at the intersection of AI and media and sees only some of the risks,” he said. “I want to be very clear, we fundamentally disagree with that view. We believe AI represents an unprecedented commercial opportunities for UMG and our artists.

Source: UMG boss sees AI as more than just a risk for media industries

‘YouTube Economics Are Challenging For Broadcasters,’ BBC Says

The BBC may have struck what it described as a landmark YouTube deal this year but it sees little commercial opportunity on the Google-owned behemoth. In its charter review consultation response today, the corporation said “we do not envisage a major commercial upside” to making more YouTube-first shows “due to the limited revenues on offer from video sharing platforms.”

Source: ‘YouTube Economics Are Challenging For Broadcasters,’ BBC Says

Create Music Group, at $2.2 billion valuation, completes $450 million fundraise

The acquisitive company confirmed on Wednesday (March 4) that it has invested more than $500 million across acquisitions, advances, and other growth initiatives over the past 12 months alone. Create said that this M&A activity has positioned it “as a scaled co-owner and operator of enduring music businesses with global reach”.

Source: Create Music Group, at $2.2 billion valuation, completes $450 million fundraise

AI-music artists get their own accelerator from Prose Ventures

The accelerator is the work of a company called Prose Ventures, founded by veteran investor and founder Jules Miller, who decided to make the demo day a public event on Twitch to counter some of the current narrative about AI musicmakers. “There’s a lot of noise around AI music, and the only way to understand it is to listen – to the music and to the real people behind it doing serious creative work,” said Miller.

Source: AI-music artists get their own accelerator from Prose Ventures

Robert Kyncl tells WMG shareholders: AI is music’s next growth engine, not its downfall

Robert Kyncl has published a letter to Warner Music Group shareholders that pushes back against any under-appreciation of WMG’s value in the financial market, while talking up AI’s potential to drive that value higher. Both WMG and Universal Music Group shares are currently trading significantly below their 52-week peaks. Last Tuesday (February 24), a telling analyst note from Rothschild & Co Redburn argued that music rightsholders are particularly “exposed” to threats from AI-generated content.

Source: Robert Kyncl tells WMG shareholders: AI is music’s next growth engine, not its downfall

Sarandos: Paramount Offers Were ‘Irrational’ Relied on Political Pressure

Sarandos gave the interview to Lucas Shaw at Bloomberg, where he didn’t mince words about losing out to Paramount.  “It’ll be fascinating to see the next steps. I have been on the record a lot in the last two weeks talking about what I think the future looks like. I’m confident in our future that we’re not impacted by all that. In fact, maybe it’s to our advantage. But I hope I’m wrong for the sake of the industry.”

Source: Sarandos: Paramount Offers Were ‘Irrational’ Relied on Political Pressure

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