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.
The Hipgnosis Songs Fund catalog has just been valued at $2.36bn
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
Meta joins others reinventing search with AI
Meta is reportedly working on AI-powered search to reduce its dependency on Microsoft and Google. The development comes during a season where many vendors are finding new opportunities with search using generative AI. For example, Google — the clear leader in search up to now — has transformed its longstanding search strategy with AI Overviews, a feature that summarizes search results, provides product comparisons and performs other generative AI-powered services, over the past year.
Source: Meta joins others reinventing search with AI | TechTarget
Google’s AI search summaries are rolling out to over 100 more countries
Google’s AI Overviews are expanding across more than 100 countries this week. The AI-generated search summaries will appear for users in Canada, Australia, New Zealand, South Africa, Colombia, Chile, the Phillippines, Nigeria, and many more locations. You can view the full list of countries on Google’s website. In each country, AI Overviews will now appear in any supported language, including English, Hindi, Indonesian, Japanese, Portuguese, and Spanish.
Source: Google’s AI search summaries are rolling out to over 100 more countries
This AI version of a hit Christmas song marks a new era for music
As AI voice generators have become more widespread, the music industry has taken a dual approach to the technology — backing state and federal legislation that adds protections for an artist’s voice while identifying tech companies like SoundLab that give artists control over any AI-generated output. On the latter front, UMG has already grown its roster of AI partners since releasing “Noche Buena y Navidad.”
Source: This AI version of a hit Christmas song marks a new era for music
Six Biggest Companies to Spend $126 Billion on Content in 2024, up 9%, Led by Disney
That estimate comes from a new report by U.K.-based research firm Ampere Analysis. The spending across the six companies — Disney, Comcast, Google, Warner Bros. Discovery, Netflix and Paramount Global — will reach a new high in 2024 and account for 51% of the total content spending landscape, up from 47% in 2020, according to Ampere.
Source: Six Biggest Companies to Spend Record $126 Billion on Content in 2024, up 9%, Led by Disney
Adobe execs say artists need to embrace AI or get left behind
Adobe is going all in on generative AI models and tools, even if that means turning away creators who dislike the technology. Artists who refuse to embrace AI in their work are “not going to be successful in this new world without using it,” says Alexandru Costin, vice president of generative AI at Adobe. “Our goal is to make our customers successful, and we think that in order for them to be successful, they need to embrace the tech.”
Source: Adobe execs say artists need to embrace AI or get left behind
Open-source AI must reveal its training data, per new OSI definition
The Open Source Initiative (OSI) has released its official definition of “open” artificial intelligence, setting the stage for a clash with tech giants like Meta — whose models don’t fit the rules. OSI has long set the industry standard for what constitutes open-source software, but AI systems include elements that aren’t covered by conventional licenses, like model training data.
Source: Open-source AI must reveal its training data, per new OSI definition
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
Microsoft’s AI demand under scrutiny as investors seek payday
Source: Microsoft’s AI demand under scrutiny as investors seek payday