Here are the main newsworthy topics about AI and Web3. But we also have some great input about artist remuneration. Curious? Let’s dive in together.
#1. Character.AI is booming
It's official: artificial intelligence is an incredible money machine. Its role is increasingly significant in the music industry. Character.AI would be the perfect example of that. The solution is now worth $1 billion, according to a recent Financial Times report.
For those who haven’t heard of it yet, Character.AI allows users to interact with a variety of bots designed to mimic a number of famous people, such as Billie Eilish, Twice’s Nayeon and Apple CEO Tim Cook. Just to name a few. Besides, you can also interact with other kinds of professional voices, such as teachers, therapists, etc.
It seems only logical that more and more people are getting fascinated, but also frightened by the power of AI. Incidentally, Dr. Maya Ackerman - the CEO and co-founder of TikTok’s music AI tech was on MBW Podcast to talk about AI and its implication in the music field. One of the most relevant aspects is that Maya said that "robots will never replace human songwriters".
#2. RadioGPT is a thing now
Speaking of AI, its rise has rocked the music industry, and is now interested in radio broadcasting. See, an AI-driven DJ called “RadioGPT” is now in beta testing. Futuri, the leading provider of cloud-based audience engagement and sales intelligence software for media companies, is calling it "an unmatched localized radio experience for any market, any format."
All of this could be a further help to human work. Futuri’s CEO Daniel Anstandig stated: “The ability for broadcasters to use RadioGPT to localize their on-air content in a turnkey fashion opens up resources for them to deepen their important home-field advantages in new and unique ways. With RadioGPT, there should never be a ‘liner card’ or ‘sweeper-only’ air shift again. Now everyone can be live and local.”
#3. TikTok trying to get ahead
While the bipartisan actions for the prohibition of TikTok continue in the US, the platform keeps on with the introduction of new features and improvements. The new function introduced is called "Series" and will allow creators to offer exclusive paid content. Series was presented as "a new way for creators to share their stories, talents and creativity as premium content”.
This is not the first initiative the giant owned by ByteDance took to improve creators' pay. We already talked about the "Creator Fund" last week. Despite the continuous enhancements, the outreach of the China-based platform is seriously threatened by legislative action in the US. The battle against the alleged breach and use of data threats to national security does not seem to stop. We will definitely see updates on the fate of TIkTok overseas in the coming weeks!
#4. Artist-centric model is covering more ground
UMG announced in January its collaboration with Tidal, for working on a new artist-centric economic model of streaming fees. The company's Q4 2022 profit call emerged that UMG has now extended the collaboration to other services. Among them, Deezer and other Video-Sharing services.
Lucian Grainge said they want to create “an environment in which the creators of all music content, whether in the form of audio or short-form video, are fairly compensated and can therefore thrive for decades to come." It seems that an artist-centered model is the only option to make the streaming business more sustainable and durable. They haven’t revealed the details of the new partnership, but something is certainly moving.
#5. The new Web3-centered live broadcast platform by Snoop Dogg
It seems clear by now that Snoop Dogg is not only one of the most famous rappers in the world, but also a high-level digital entrepreneur. After the exclusive collaboration with TikTok, for Death Row’s catalog marketing, Snoop Dogg announced the launch of "Schiller" - a live broadcast platform for creators, focused on Web3.
Together with tech entrepreneur Sam Jones, Snoop Dog will launch Shiller in April 2023. Here, creators will make interactive video or audio shows, allowing viewers to participate. In addition, merch & NFT and Web3 related products will be part of the platform. There’s certainly more to come, worth keeping an eye on!