This week, Universal Music Group Chairman and CEO Sir Lucian Grainge despatched a complete memo to UMG workers outlining the corporate’s technique for generative AI partnerships and product growth.
Meanwhile, 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 looking for alternate options to conventional business financing.
Also this week, Warner Music merged its Benelux and GSA companies below a brand new Central Europe construction, with management adjustments throughout the area.
Here are a few of 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.’
Universal Music Group Chairman and CEO Sir Lucian Grainge has despatched a complete memo to UMG workers 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 Universal is “taking part in a pioneering position in fostering AI’s monumental potential”.
His memo confirms that UMG is “very actively engaged with practically a dozen totally different firms on important new merchandise and repair plans that maintain promise for a dramatic enlargement 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, Universal Music Group, and Warner Music Group – in addition to indie music consultant Merlin and impartial music firm Believe.
The firm said that it’s “making important investments in AI analysis and product growth” and has already begun constructing a “state-of-the-art” generative AI analysis lab and product staff.
Spotify introduced the partnerships and plans to develop “artist-first AI music merchandise” on Thursday (October 16). It stated that it goals to onboard further 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 may deploy $100 million to labels and distributors looking for alternate options to conventional business financing.
The Global Independence Fund (GIF) represents an enlargement of beatBread’s current enterprise mannequin, which gives capital to impartial music operations.
The firm established the fund in partnership with a number of commerce organizations representing impartial labels, together with AIM, AIM Ireland, WIN and IMPALA.
The financing will permit labels to entry capital by borrowing towards current catalog income streams, securing advances for artist signings, and acquiring working capital for operational bills, whereas “keep[ing] management of day-to-day resolution 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’ Records, with these in Germany, Switzerland, and Austria (GSA) below 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 position, 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 Guy Moot, Co-Chair and CEO of Warner Chappell Music… (MBW)
5. Frank Sinatra identify, 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 identify, 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.
Speaking 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 a press release despatched to MBW: “Frank Sinatra Enterprises, Tina Sinatra, and Warner Music Group are delighted to welcome Irving Azoff and Iconic to the devoted staff serving the life’s work and legacy of Frank Sinatra….” (MBW)
Partner message: MBW’s Weekly Round-up is supported by BMI, the global chief in performing rights administration, devoted to supporting songwriters, composers and publishers and championing the worth of music. Find out extra about BMI right here. Music Business Worldwide
