OpenAI CEO Sam Altman said on Wednesday the ChatGPT maker might consider leaving Europe if it could not comply with the upcoming artificial intelligence (AI) regulations by the European Union. “The current draft of the EU AI Act would be over-regulating, but we have heard it’s going to get pulled back,” he told Reuters. “They are still talking about it.”
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Generative AI-powered music startup boombox.io raises $7m
AI-powered music collaboration platform boombox.io has closed a seed funding round, securing $7 million in investments from Forerunner, super{set} startup studio and Ulu Ventures. According to Boombox, using its so-called ‘Boombot’ AI tool, it leverages Generative AI to “enrich and extend a musician’s creative process.” The San Francisco-based platform claims that this tool “generates new ideas and fleshes out partial ones to make music creation more dynamic, faster and smarter.”
Source: Generative AI-powered music startup boombox.io raises $7m
It owns a chunk of both Warner and Universal Music. But what is Fidelity Investments?
One of the US’s most prominent brokerages has quietly become a major shareholder in two of the big three global music recording companies over the past few years. Boston-headquartered Fidelity Investments, the second-largest brokerage in the US, has snapped up around $1.125 billion worth of shares inUniversal Music Group, the world’s largest music rights holder, and about $450 million–worth of shares in Warner Music Group, the third-largest rights holder.
How the WGA Decided to Harness — but Not Ban — Artificial Intelligence
Over several months of Zoom meetings, they crafted what would become the WGA proposals on artificial intelligence – the framework of regulations that would be presented to the studios during collective bargaining. Those proposals began with an appreciation for both the threat and possibilities of AI. They did not seek to outlaw it. Instead, they focused on protecting screenwriters from economic harm, while allowing them the freedom to use AI if they want to.
Source: How the WGA Decided to Harness — but Not Ban — Artificial Intelligence
Warner CFO Eric Levin: music streaming business is ready for recurring price increases
Warner Music Group‘s Chief Financial Officer Eric Levin says the proof is in that streaming music services can hike prices without harming growth – and he’d like to see DSPs move to recurring price hikes. During a Q&A session at JPMorgan’s Global Technology, Media and Communications Conference on Monday (May 22), Levin said the market “has proven it can bear rate increases,” and WMG is encouraging its streaming partners “to look very, very, very, very seriously” at raising rates.
Source: Warner CFO Eric Levin: music streaming business is ready for recurring price increases
Universal partners with generative AI startup Endel to create ‘AI-powered, artist-driven functional music’
Under this “groundbreaking” agreement, the two companies will use Endel’s proprietary AI technology to let UMG artists “reimagine” their music and create “science-backed soundscapes designed to enhance listeners’ wellness” using both new music and new versions of catalog music. Berlin-based Endel runs a cross-platform “ecosystem” of AI-powered apps that produce personalized sounds to help people focus, relax, and sleep.
Sony Music Chairman Urges Streamers to Regulate ‘Poor Quality Content’
Sony Music Group chairman Rob Stringer said on Tuesday (May 23) that the company is focused on the fight against low-quality content — which he called ”the lowest common denominator” — flooding top streaming platforms. “We have to look after the premium quality artists at the top of our business,” Stringer said during a company-wide presentation to investors. “We think that’s what draws people to [digital service providers].”
Source: Sony Music Chairman Urges Streamers to Regulate ‘Poor Quality Content,’ Strikes Positive Note on AI
How the BookTok trend has influenced nearly every aspect of publishing
2021 was the publishing industry’s best year since 2004, according to data from US print-book-sales tracker Circana BookScan (formerly NPD BookScan), which began tracking sales that year. Sales have since dipped slightly, but are still up compared to 2019. Last year, authors associated with #BookTook sold 60% more copies than the year before, Circana said.
Cannes: Streamers and Theatrical – Better Together?
Has the war between streaming and theatrical reached détente? After years defined by no quarter battling over releases, exclusive windows and global rights for the most in-demand independent films — battles fought most fiercely in Cannes — theatrical distributors and online platforms have put down their arms and started to work together.
Protect the commons from AI: Generative models will consume the collaborative spirit of the internet
Creators, artists and writers have used creative commons licenses to share their work. But it has been reduced it to food for artificial intelligence software. If artists decide that they do want to share their creations publicly and they would like to interact with other artists, they should be allowed to do that without fear of “being scooped” on their own work.
Source: Protect the commons from AI: Generative models will consume the collaborative spirit of the internet