The bond issuance is backed by the master recordings and compositions from artists such as Creed, R.E.M. and Phil Collins, American Banker reported, citing data from Kroll Bond Ratings Agency (KBRA). According to ratings agency Moody’s, the proceeds will be used to repay a bond issuance that Concord completed in 2022. At the time, it was described as “the largest asset-backed securitization offering of music rights in the industry to date.”
Source: Concord prepares to issue $1.75bn in bonds, in ABS transaction backed by 1 million music copyrights
Copyright law—a byzantine world in which millions ride on whether ‘Ice Ice Baby’ sounds too much like ‘Under Pressure’—rarely has much to say about geopolitics. But two pivotal AI copyright court decisions last week, the first in a slew of prominent lawsuits, will have enormous implications for the U.S. competition with China for technological primacy.
An important aspect of the Anthropic case is that it focuses on the inputs of AI systems as opposed to the outputs. In other words, it answers the question, “Is copying a whole bunch of books a violation, independent of what you’re doing with them?” with “No.”
Those using the platform can now indicate their interest in AI training licensing deals by marking songs as “Open to AI licensing.” The company explains that this selection registers rightsholders in a dedicated database, “creating a simple process for AI companies to seek authorization and legally license compositions and recordings from artists, labels, and publishers”.
The Danish government said on Thursday it would strengthen protection against digital imitations of people’s identities with what it believes to be the first law of its kind in Europe. It defines a deepfake as a very realistic digital representation of a person, including their appearance and voice. The Danish culture minister, Jakob Engel-Schmidt, said he hoped the bill before parliament would send an “unequivocal message” that everybody had the right to the way they looked and sounded.