This week, Common Music Group Chairman and CEO Sir Lucian Grainge despatched a complete memo to UMG employees outlining the corporate’s technique for generative AI partnerships and product growth.
In the meantime, Spotify introduced plans to develop “accountable” AI music merchandise in partnership with all three main music firms and key independents.
Elsewhere, beatBread launched a brand new $100 million fund to deploy capital to indie labels and distributors in search of alternate options to conventional business financing.
Additionally this week, Warner Music merged its Benelux and GSA companies beneath a brand new Central Europe construction, with management adjustments throughout the area.
Listed below are among the greatest headlines from the previous few days…
1. SIR LUCIAN GRAINGE ON UMG’S AI POLICY: ‘WE WILL NOT LICENSE AI MODELS THAT USE AN ARTIST’S VOICE WITHOUT THEIR CONSENT.’
Common Music Group Chairman and CEO Sir Lucian Grainge has despatched a complete memo to UMG employees outlining the corporate’s technique for generative AI partnerships and product growth.
The letter, despatched on Monday (October 13) and obtained by MBW, addresses three core areas: (i) UMG’s increasing portfolio of AI firm agreements, (ii) how artists can take part in AI alternatives, and (iii) the corporate’s public coverage advocacy round accountable AI growth. Grainge writes that Common is “taking part in a pioneering function in fostering AI’s huge potential”.
His memo confirms that UMG is “very actively engaged with practically a dozen totally different firms on vital new merchandise and repair plans that maintain promise for a dramatic growth of the AI music panorama…” (MBW)
2. SPOTIFY TO DEVELOP ‘ARTIST-FIRST’ AI MUSIC PRODUCTS IN PARTNERSHIP WITH SONY, UMG, WARNER, MERLIN, AND BELIEVE
Spotify plans to develop “accountable” AI music merchandise in partnership with all three main music firms – Sony Music Group, Common Music Group, and Warner Music Group – in addition to indie music consultant Merlin and impartial music firm Consider.
The corporate said that it’s “making vital investments in AI analysis and product growth” and has already begun constructing a “state-of-the-art” generative AI analysis lab and product crew.
Spotify introduced the partnerships and plans to develop “artist-first AI music merchandise” on Thursday (October 16). It stated that it goals to onboard extra rightsholders and distributors over time... (MBW)
3. BEATBREAD LAUNCHES $100M GLOBAL INDIE FUND IN PARTNERSHIP WITH AIM, WIN, IMPALA
Two months after beatBread secured one other USD $124 million in credit score and fairness capital, the music financing platform has now launched a brand new fund that can deploy $100 million to labels and distributors in search of alternate options to conventional business financing.
The International Independence Fund (GIF) represents an growth of beatBread’s present enterprise mannequin, which offers capital to impartial music operations.
The corporate established the fund in partnership with a number of commerce organizations representing impartial labels, together with AIM, AIM Eire, WIN and IMPALA.
The financing will enable labels to entry capital by borrowing in opposition to present catalog income streams, securing advances for artist signings, and acquiring working capital for operational bills, whereas “preserve[ing] management of day-to-day determination making…” (MBW)
4. WARNER MUSIC MERGES BENELUX-GSA BUSINESSES; NIELS WALBOOMERS NAMED PRESIDENT, AS CENTRAL EUROPE BOSSES DOREEN SCHIMK & FABIAN DREBES EXIT
Warner Music is combining its recorded music companies in Benelux (which incorporates the Netherlands, Belgium, and Luxembourg), together with Spinnin’ Information, with these in Germany, Switzerland, and Austria (GSA) beneath the Warner Music Central Europe banner.
Niels Walboomers has been appointed President of the expanded WM Central Europe area throughout these six international locations. Doreen Schimk and Fabian Drebes will step down as WM Central Europe Co-Presidents after 4 years within the function, and a long time on the firm, as “they pursue new tasks”, Warner stated on Tuesday (October 14).
On the publishing aspect of the enterprise, Natascha Augustin will proceed to function Managing Director of Warner Chappell Music Germany, which Warner famous is the “nation’s primary home music writer”, reporting to Man Moot, Co-Chair and CEO of Warner Chappell Music… (MBW)
5. Frank Sinatra title, picture and likeness rights acquired by Irving Azoff’s Iconic Artists Group
Iconic Artists Group, the corporate led by music business veteran Irving Azoff, has reportedly acquired Frank Sinatra’s title, picture and likeness rights.
Bloomberg reported the information on Sunday (October 12) and stated that Azoff plans to create a Rat Pack-themed venue in Las Vegas.
Talking at Bloomberg’s Screentime convention final week, Azoff confirmed that the corporate “just lately acquired a bit of the Sinatra property.”
Frank Sinatra Enterprises confirmed the deal in an announcement despatched to MBW: “Frank Sinatra Enterprises, Tina Sinatra, and Warner Music Group are delighted to welcome Irving Azoff and Iconic to the devoted crew serving the life’s work and legacy of Frank Sinatra….” (MBW)
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