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Universal, Warner nearing AI licensing deals for their music content
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NewsBytes
Universal Music and Warner Music are on the verge of finalizing landmark AI licensing agreements.
If successful, this would allow artificial intelligence (AI) companies to use music content legally, marking a major change in how record labels deal with AI technologies.
Negotiations Negotiations involve multiple AI start-ups and tech giants The ongoing negotiations involve several start-ups such as ElevenLabs, Stability AI, Suno, Udio, and Klay Vision.
Compensation model Payment structure similar to streaming services is being considered The music companies are looking for a payment structure that is similar to streaming services.
This approach is similar to existing streaming models and could provide a way for AI companies to compensate record labels for their content usage.