Kroll’s report cites an unnamed independent third-party valuation firm that valued the HSF portfolio at USD $2.36 billion as of August 1, 2024. That’s around $150 million more than the total amount HSF spent buying its portfolio over the years ($2.206 billion, according to financial documents). It’s also around$150 million more than the portfolio’s estimated enterprise value of $2.20 billion when Blackstone acquired it this summer.
Rights
ASCAP and Sacem form strategic alliance that will include a new AI task force
US collective management organization ASCAP and French counterpart Sacem have announced a new strategic partnership that will see the two CMOs share technologies, extend a digital licensing partnership, bring their member creators together, and launch a new AI task force. The new partnership, announced on Wednesday (October 30), builds on earlier strategic collaborations between the two, including a 2022 digital licensing partnership.
Source: ASCAP and Sacem form strategic alliance that will include a new AI task force
GEMA Unveils AI Licensing Model Details, Including Developer Fee
GEMA has officially revealed some of the details behind its licensing model, including a mandatory fee, for generative AI platforms. Payments should also be made for “all economic benefits that can arise from the subsequent use of AI-generated music,” including in public establishments and on streaming services, because this music resulted from an initial library of protected media, according to GEMA.
Source: GEMA Unveils AI Licensing Model Details, Including Developer Fee
UK prime minister: AI companies should pay publishers for content
Prime Minister Keir Starmer has said in a letter to the News Media Association that his government “recognizes the basic principle” that publishers should seek compensation for the use of their content by artificial intelligence companies. Marking the start of the NMA‘s annual “Journalism Matters” week, the Labour leader said both AI and the media were “central” to the government’s growth goals and he hoped to “rebalance” the relationship between platforms and publishers using the Digital Markets and Consumers Act.
Source: Keir Starmer: AI companies should pay publishers for content
Universal Music Strikes Strategic Deal With “Ethical AI Music Company” Klay Vision
Universal Music Group, led by chairman and CEO Lucian Grainge, is teaming up with L.A.-based AI music company Klay Vision on what they described as “a pioneering commercial ethical foundational model for AI-generated music that works in collaboration with the music industry and its creators.” The two companies said that they share “the conviction that state-of-the-art foundational AI models are best built and scaled responsibly through constructive dialogue and consensus.”
Source: Universal Music Strikes Strategic Deal With “Ethical AI Music Company” Klay Vision
Meta signs its first big AI deal for news
Meta’s AI chatbot will soon begin citing Reuters reporting while answering news-related queries. The two companies have struck what Axios describes as a “multi-year deal” that will allow Meta to use Reuters content for its chatbot responses. The deal is the first of its kind for Meta, in an era of news outlets agreeing to provide their content to AI companies.
More than 10,500 actors, musicians and authors protest tech’s AI data grab
More than 10,500 creative professionals, including Thom Yorke from Radiohead, actress Julianne Moore and Nobel Prize-winning novelist Kazuo Ishiguro, have signed an open letter condemning “unlicensed use of creative works” to develop artificial intelligence systems such as OpenAI’s ChatGPT. Use of creative work without a license for AI development is “a major, unjust threat to the livelihoods of the people behind those works, and must not be permitted,” the brief, 29-word letter says.
Source: More than 10,500 actors, musicians and authors protest tech’s AI data grab
AI could transform film visual effects. But first, the technology needs to address copyright debate
Media creatives are now presented with a huge selection of generative AI Tools that offer new ways of creating images, text, voices and music. However, a key issue related to the technology still needs to be addressed: have these AI tools been created ethically?
Source: AI could transform film visual effects. But first, the technology needs to address copyright debate
NBA Teams Fire Back Against Music Publishers’ Lawsuits
As a growing list of companies are finding out – or being reminded – via litigation, social media platforms’ pre-cleared song libraries are generally licensed for personal as opposed to professional use. There’s also another layer of complexity (at least for companies and professionals situated outside the industry) given how quickly usage rules and infringement responses can change on social services.
Source: NBA Teams Fire Back Against Music Publishers’ Lawsuits
Suno, with a $500m valuation, has admitted training its AI on copyrighted music.
In June, the $500 million company was sued by the major record companies, along with fellow AI firm Udio, for allegedly training their systems using the majors’ recordings without permission – an accusation they pretty much admitted to in court filings in August. The legal headache and negative perception in the record industry don’t seem to have stopped one Grammy-winning artist and producer from working with the company.