The company has now raised $80M in its efforts to cut out the middleman between artists and music streamers. Unlike traditional platforms where artists receive a fraction of streaming profits, Tune.FM claims to pay artists 90%of their streaming revenue through its JAM token. This stands in contrast to industry giants like Spotify, which distributes “nearly 70%” of its music revenue to rightsholders, who then further distribute it to artists and songwriters.
Source: Web3 music streaming platform Tune.FM raises $50m in funding
Meta will begin using publicly shared content from adult users in the UK on Facebook and Instagram to train its artificial intelligence models. The company will use publicly available information, such as adult users’ posts, comments, photos, and captions on both platforms. In July, Meta paused AI releases in the European Union following the Irish Data Protection Commission’s orders to halt its AI assistant rollout in the EU due to data privacy concerns.
House Judiciary members sent a letter to the Copyright Office requesting an examination of concerns related to performing rights organizations (PROs). In the letter, signed by the committee’s chairmen Rep. Jim Jordan and Rep. Darrell Issa as well as member Rep. Scott Fitzgerald, two particular areas of concern are addressed: the “proliferation” of new PROs and the lack of transparency about the distribution of general licensing revenue.
In a letter to the agencies, the senators explained their position that the latest AI features are hitting creators and publishers while they’re down. As journalistic outlets experience unprecedented consolidation and layoffs, “dominant online platforms, such as Google and Meta, generate billions of dollars per year in advertising revenue from news and other original content created by others. New generative AI features threaten to exacerbate these problems.”
Users will get their first chance to try Adobe’s AI model for video generation in just a couple months. The company says features powered by Adobe’s Firefly Video model will become available before the end of 2024 on the Premiere Pro beta app and on a free website. Adobe says three features — Generative Extend, Text to Video, and Image to Video — are currently in a private beta, but will be public soon.