Companies racing to develop more powerful artificial intelligence are rapidly nearing a new problem: The internet might be too small for their plans. Ever more powerful systems developed by OpenAI, Google and others require larger oceans of information to learn from. That demand is straining the available pool of quality public data online at the same time that some data owners are blocking access to AI companies.
Source: For Data-Guzzling AI Companies, the Internet Is Too Small
The responsible utilization of data in AI development is a critical issue, and a select group of visual AI platforms are leading by example, demonstrating that AI can flourish while respecting intellectual property rights and fairly compensating creators. At the forefront of this movement are four pioneering platforms that have taken proactive steps to ensure their AI models are trained exclusively on properly licensed content.
Source: 4 Visual AI Platforms Proving That AI Can Thrive with Properly Licensed Content – Kaptur
Shot Tower Capital has engaged in an independent audit of Hipgnosis Songs Fund’s assets, lowering the valuation of its assets by 26%. This follows a report on March 18 that revealed a double-counting error in Hipgnosis’ accrued revenue, with the board announcing a 7.6% reduction to its operative net asset value (NAV). The report also finds that Hipgnosis Songs Fund’s acquisition underwriting was “below music industry standards.”
Source: Hipgnosis Songs Fund Audit Says Fund ‘Failed to Perform’
SoundExchange, the entity tasked with collecting and distributing royalties for the use of recordings on non-interactive digital services, just recently unveiled this latest milestone via a brief release. SoundExchange towards the beginning of 2024 indicated that it had distributed over $1 billion during 2023, up from about $959 million in 2022. Bearing in mind this growth the $12 billion milestone will presumably arrive within the next year or so.
Source: SoundExchange Announces $11 Billion Distribution Milestone
Last year was a very good one for music streaming: Audio streams increased 22.3% year over year, according to analytics firm Luminate, accounting for more than two-thirds of global music revenue. It was also the year when the music industry finally started to address the fact that the streaming model doesn’t benefit artists.
Source: Music streaming royalties are terrible—these companies may have a fix
Major book publishers continue their legal crusade against Internet Archive’s scan-and-lend library, hoping to shut it down for good. IA’s appeal previously received support from authors and copyright scholars. The publishers, however, have some heavyweight backers too. New amicus briefs are signed by former U.S. politicians, former judges, and legal scholars. Industry groups such as the MPA and RIAA also rally behind the publishers.
The briefs are the latest development in the long-running copyright infringement case, following the publishers’ opening appeal brief filed earlier this month, and comes nearly one year after judge John G. Koeltl unequivocally found the scanning and lending of print library books to be copyright infringement. The Internet Archive’s reply brief is now due on April 19.
Source: Amicus Briefs Filed in Internet Archive Copyright Case
The bipartisan ELVIS Act was signed into law on Thursday (March 21) by Tennessee Governor Bill Lee at a honky-tonk in Nashville. The ELVIS Act will officially go into effect on July 1 and will update the state’s existing right of publicity. The bill was introduced in January to update Tennessee’s Protection of Personal Rights law, to include protections for songwriters, performers, and music industry professionals’ voices from the misuse of artificial intelligence (AI).
Source: ELVIS Act signed into law in Tennessee to protect artists’ voice and likeness from the misuse of AI
Spotify has provided further details on the record $9 billion it paid out to the music industry in 2023, which was first announced in January. For context, the company stated that the “amount has nearly tripled over the past six years, and represents a big part of the $48 billion-plus Spotify has paid since its founding.” In Tuesday’s announcement the company says the number of artists generating at least $1,000,000, $100,000 and $10,000 all have nearly tripled since 2017 — and those earnings are from Spotify alone.
Source: Spotify Claims Record Earnings in 2023 for Indie Artists, Songwriters and Non-English-Language Songs
Less than five months after unveiling an over $700 million catalog partnership with Morgan Stanley, Kobalt says it’s increased its total “funding capacity” to north of $1 billion. New York-based Kobalt touted the deployable capital today, via a formal release. The more than $1 billion at hand refers specifically to the mentioned Morgan Stanley-powered tranche as well as a refinancing and a newly obtained $266.5 million from an asset-backed securitization.
Source: Kobalt Funding Tops $1B Following Refinancing, Royalty Securities