“Any way you look at it, this oversupply, whether or not AI-created is, simply, bad. Bad for artists. Bad for fans. And bad for the platforms themselves.” “Much of the latest generative AI is trained on copyrighted material, which clearly violates artists’ and labels’ rights, and would put platforms completely at odds with the partnerships with us and our artists,” he continued. and other countries, as well as laws governing trademark, name and likeness, voice impersonation, and right of publicity,” chairman-CEO Lucian Grainge said on the call. “The recent explosive development in generative AI will, if left unchecked, both increase the flood of unwanted content hosted on platforms, and create rights issues with respect to existing copyright law, in the U.S. Universal Music Posts Nearly $11 Billion in 2022 Revenue as Company Expands Efforts for 'New Streaming Model' Universal Music Extends Chairman-CEO Lucian Grainge's Contract, With One-Time Stock Grant of Up to $100 Million Universal Music Asks Streaming Services to Block AI Access to Its Songs Driven by big releases from Morgan Wallen, Taylor Swift, Tomorrow X Together, Drake and others, Universal Music Group saw its revenues rise 11.5% year over year to $2.71 billion in the first quarter of 2023.īut the company’s earnings call on Wednesday was just as newsworthy for the company doubling down on the strong remarks it has made about the fast-rising presence of - some would say threat from - AI in the music world, which hit UMG in the form of “Heart on My Sleeve,” a song using AI-generated soundalikes of two of the company’s biggest artists, Drake and the Weeknd.
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