UMG, DAACI, Both Partner With AI Music Startups
On Tuesday, (5/23) Universal Music Group (UMG) announced a “first of it’s kind strategic relationship” with AI functional music startup Endel, who specializes in the genre of “functional” music, or music meant for focusing/relaxation/sleep enhancement. Endel says that functional music “represents one of the largest sub-categories of music listening worldwide, encompassing an estimated 15 billion streams a month” and adding that the functional music category “has been plagued with sub-par offerings” and artists can now expand and reimagine their catalog using AI technology,” opposed to exploiting “copyrighted works to create derivative generative soundscapes.
And just yesterday (5/24), DAACI, a London-based music composition company that specializes in generated musical elements and textures in real time, acquired two different music tech companies, MXX and WiSL. MXX has internally developed a variety of AI technologies, including an AI music ediotr, which can “adapt tracks…, match the duration with specific images/vidsso, aligning with beats/fills/sections. On the other side, WiSL is a platform that “streamlines the process of sourcing, editing, auditioning, and licensing music for various types of content.”
You can feel the pressure those AI-generated Drake songs put on UMG and they’ve moved quickly on possible open markets where the new AI boom and the old music industry can connect. Now, UMG and it’s roster of international talent can start creating “new” works. DAACI has a different mind state. They’re looking to be one of the premiere creative companies that are utilizing these new techs to create “new” works for creators.
Some people are scared, but personally, I feel galvanized with these announcements and what it means for the future for creation. On to the new frontier!
Sourceshttps://www.musicbusinessworldwide.com/universal-inks-deal-with-generative-ai-startup-endel-to-create-ai-powered-artist-driven-functional-music/
