RG Ingersoll's Music Tips for May 3 2023 - TikTok's parent is working on an AI music

 

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Music Business Worldwide: Newsletter

TikTok's parent is working on an AI music app that 'significantly lowers the music creation barrier' Last year, MBW broke the news that tech giant ByteDance and its short-form video app TikTok were hiring for a number of highly-skilled specialists in machine learning and AI music creation in both the US and China. Now, a pair of new job ads have shed more light on these plans. In one of the new ads, Beijing-headquartered ByteDance reveals it is looking for a Product Manager in Los Angeles to join a team that is “working on an AI-powered tool that provides intelligent music creation and audio editing capabilities”. The job ad explains further that the app’s “vision” is “to significantly lower the music creation barrier and inspire musical creativity and expression, further enriching the music content...” (MBW)

MBW Newsletter Sponsors Primary Wave: The Home of Legends. The world's leading independent publisher of iconic music CMS, CRM, Playlists, Royalty Accounting, Analytics: your music business all in one place The next generation label transforming viral moments into long term music careers.  Centtrip: The award-winning account for music payments, royalties, foreign exchange and touring expenses Viberate: Get premium music data analytics at an unbeatable price – $9.90/month! BandLab: Home to 60M creators making and sharing music without limits Voly Music The Bespoke Financial Management Platform for the Music Industry Rights & Royalties Done Right. Drive more revenue with Vistex Music Cloud. Technology + Infrastructure + Methodology ➡️ Execution = Results The complete royalty solution for labels and publishers Want your brand here? Contact Rebecca through this link...   Believe: We’ll block 100% AI-created music from being uploaded to streaming services via TuneCore Paris-headquartered Believe says it’s working to keep music that’s fully AI-generated off its platforms – and the technology to detect it almost perfectly already exists. “We have deployed a number of quality controls in our business and we aim not to distribute any content that is 100% created by AI, whether that’s through Believe or through TuneCore,” Believe co-founder and CEO Denis Ladegaillerie told analysts on the firm’s Q1 earnings call last Thursday (April 27)... (MBW) HYBE's revenues grew 44.1% YoY to $306m in Q1, driven by K-Pop stars Tomorrow x Together, Seventeen, Jimin and more HYBE's revenues grew 44.1% YoY to 410.6 billion South Korea Won in Q1 2023. That's according to a new investor filing published by the South Korea-based entertainment giant on Tuesday (May 2). Those quarterly revenues for HYBE's Q1 (the three months to end of March), convert to approximately $306 million... (MBW) Guy Oseary and Ashton Kutcher-led Sound Ventures launches $240m artificial intelligence investment fund Los Angeles-based venture capital firm Sound Ventures has closed its new Sound Ventures AI Fund at nearly $240 million. Sound Ventures, led by actor Ashton Kutcher, talent manager Guy Oseary and Effie Epstein, plans to invest in what it calls "category-defining" artificial intelligence businesses. Its first three investments were in Anthropic, StabilityAI and ChatGPT developer OpenAI.... (MBW)

MBW'S QUOTE OF THE DAY "Ticketmaster’s job has been to take that punch in the head for the industry. That’s been part of why they hire you. There’s no glory in being the ticketing company."   The controversy over concert ticket pricing seems to have no end, and Ticketmaster – the dominant ticket seller in North America – is taking the brunt of the storm. The US Department of Justice is once again investigating the company over alleged anti-competitive practices, and a congressional committee has taken up the cause, ostensibly on the side of consumers who are complaining about what some see as increasingly unreasonable prices. This comes on the heels of some high-profile controversies over ticket prices and sales. In 2022, fans of Bruce Springsteen were up in arms over “platinum” tickets for the Boss’s tour that sold for as much as USD $5,000. And in November, Ticketmaster’s sales system appeared to crash under the weight of enormous demand for tickets to Taylor Swift’s The Eras tour. In a new – and very wide-ranging – interview on the Bob Lefsetz Podcast, Michael Rapino (pictured), CEO and President of Ticketmaster parent Live Nation Entertainment, addressed all of these issues and more...  (MBW)

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Don't miss: Believe generated $213m in Q1, up 22.2% YoY Paris-headquartered music company Believe has published its financial results for Q1 2023 (the three months to end of March). Across Believe’s entire business, the company, which floated on the Paris Euronext in 2021, generated EUR €198.6 million in Q1 2023, representing growth of 22.2% YoY. That quarterly revenue figure converts to USD $213.1 million... (MBW) Don't miss: UMG: Yes, ripping off Drake's voice is illegal A new 'ghostwriter' track, Por Qué, appeared on TikTok last week, with fake AI vocals mimicking the voices of Rihanna and Bad Bunny. (This wasn't the original 'ghostwriter'; it was, appropriately enough, a copycat.) As destiny would have it, a few hours after Por Qué arrived on TikTok, Universal Music Group held its quarterly Q1 2023 earnings call – and the major didn’t pull any punches on the subject of its artists being ripped off by generative AI... (MBW Reacts)

JOB OF THE WEEK Three Six Zero is hiring for a Senior Manager, Commercial Brand Endorsements in London with 5+ years of experience in commercial endorsements, entertainment marketing or partnership marketing... [Click here to find out more]

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