The music industry has continually evolved over the last century, largely driven by significant technological advances. However, artificial intelligence (AI) will change music more than anything technology before it.
Although AI-generated music has already gained large attention worldwide—such as the new Beatles song with John Lennon—AI will impact the overall music business, not just the creative side.
For example, AI can help music businesses like record labels streamline most of their processes, resulting in better decisions, more revenue, and less risk. Music companies can also encourage their artists to use AI, leading to more productivity and music.
In this article, we’ll look at the biggest ways AI will change the music business and how it can benefit companies.
1. Auto-Tagging: Revolutionizing Music Metadata
Metadata is the pillar of the music industry; it allows artists, labels, and streaming platforms to categorize and organize music effectively. With that said, tagging music can be a scary task for music businesses because it’s challenging and can often take significant time.
The good news? This is where AI-powered solutions like Cyanite come into play. Even better, Cyanite technology is now integrated in Reprtoir's workspace! These AI-powered tools use refined algorithms to examine audio tracks and automatically generate accurate and comprehensive metadata—including genre, tempo, mood, etc.
As a result, this not only preserves time but also guarantees consistency and precision in metadata, thus improving search and discovery for artists and listeners.
2. Optimizing Music Management
Music businesses often manage enormous libraries of songs, making it difficult to keep track of every detail. However, AI-driven systems can help streamline music management by automatically organizing and cataloging music.
For example, they can categorize songs based on artist, genre, and release date—making it more comfortable for music professionals to find and work with the music they require.
These AI-powered tools can also predict which songs are likely to function well in specific markets, determine cross-promotion possibilities, and even indicate which songs to license for various projects.
This automation allows music companies to be more efficient in managing their vast collections; it also ensures fewer mistakes and more clarity.
3. Better Royalty Management
One of the most vital aspects of the music business is guaranteeing that artists and rights holders receive their fair share of royalties. This process has historically been cumbersome and error-prone—with many artists being underpaid by music companies—leading to lengthy legal battles.
AI, however, is a game changer for royalty management. For example, AI-powered royalty management systems can track music usage across diverse platforms, estimate royalties accurately, and facilitate faster and more transparent payments.
This not only benefits artists but also decreases the administrative load on music companies and the margin for error.
4. Curating Playlists with Precision
Playlists are a huge driver of music consumption on streaming platforms, such as Spotify and Apple Music.
The good news? AI-driven playlist curation tools analyze user choices, listening history, and the elements of songs to create personalized playlists for listeners worldwide.
These intelligent algorithms can choose which songs are likely to resonate with particular users, improving the listening experience and keeping them engaged on the platform. For music companies, this means better user retention and more exposure for their artists.
5. Efficient Tour Planning
Touring is one of the most important ways to make money in the music business. However, touring hasn’t always been straightforward to organize, leading to logistical and financial issues.
With the growth of AI, companies can use it to evaluate a wide range of data—including social media engagement and historical sales—to make decisions on touring.
For instance, it can suggest signing an emerging artist whose music aligns with trending genres or advising against promoting songs that do not match the existing market demand.
This approach decreases the risk of misjudging an artist's potential, helping music businesses make safer choices.
6. Content Creation Assistance
Content creation is a multifaceted process for music companies—encompassing everything from songwriting and music video production to marketing campaigns and promotional materials. Thankfully, AI technologies are becoming increasingly valuable in streamlining and enhancing these creative endeavors.
For instance, AI-powered content creation isn't limited to music but extends to marketing materials as well. Music companies can utilize AI to analyze audience data and preferences to tailor their marketing content effectively. It can help music businesses create better social media campaigns.
As a result, promotional campaigns are more likely to engage target audiences and deliver better results—eventually boosting the company's reach and revenue by delivering better results for artists.
7. Data-Driven A&R Decisions
Data-driven A&R begins with an exhaustive analysis of the music market. However, music companies can now utilize AI algorithms to sift through an immense volume of data from sources—such as streaming platforms, social media, and music blogs.
This data includes listening trends, audience demographics, geographic hotspots, and consumer sentiment toward artists and genres.
The result? A holistic view of the music landscape. Music companies can identify emerging trends and niche markets that might have been missed using traditional methods.
For example, they can pinpoint regions where specific genres are gaining traction, enabling targeted marketing and promotions. That’s especially important when a music business is seeking to target international markets.
Artificial intelligence will change every industry in the world (not just the music industry). However, due to the creative nature of the music business, AI will likely have a major impact in the next decade. We’re already seeing the impact ChatGPT is having on creative industries.
Therefore, your music business must adapt to AI. If your music business uses AI software now to streamline processes—you can get ahead of your competition, boost profits, and reduce the likelihood of mistakes, resulting in a healthier business in the long term.
Chat with us today to find out more about how our service can help your music business!