Welcome to Music Business Worldwide’s weekly round-up – where we make sure you caught the five biggest stories to hit our headlines over the past seven days. MBW’s round-up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximize their income and reduce their touring costs.
We knew it was coming, and now it’s here. This week, in partnership with YouTube, Google unveiled its “most advanced music generation model to date” – an AI engine called Lyria that “excels at generating high-quality music with instrumentals and vocals”.
Google also released details of two experimental projects it’s running with YouTube. The first is called Dream Track, which will allow a limited number of YouTube Shorts creators to make “unique soundtracks” using the AI-generated vocals of select artists, including Alec Benjamin, Charlie Puth, Charli XCX, Demi Lovato, John Legend, Sia, T-Pain, Troye Sivan and Papoose.
The second project centers around a set of AI tools that Google says it is designing with artists, songwriters and producers to “help bolster their creative processes”.
Meanwhile, we reported that K-pop giant HYBE is expanding into Latin Music, with its acquisition of Latin Music label Exile Music, and the launch of its new Mexico-based HYBE Latin America division.
Plus, TikTok launched a new feature that links the video platform to streaming services including Spotify, Amazon Music and Apple Music, while Warner Music Group’s FY revenues topped $6 billion for the first time.
Here’s what happened this week…
On Thursday (November 16), Google unveiled what it calls its “most advanced music generation model to date”.
Dubbed Lyria, and built by Google DeepMind, the tech giant says that the AI model “excels at generating high-quality music with instrumentals and vocals, performing transformation and continuation tasks, and giving users more nuanced control of the output’s style and performance”.
Google also released details of two new AI ‘experiments’ in partnership with YouTube, the first of which is dubbed Dream Track, an experiment in YouTube Shorts.
The other experiment is centered around a set of Music AI tools that Google says it is designing with artists, songwriters, and producers “to help bolster their creative processes”.
To develop these projects, Google says that it has “brought together technical experts from across Google with a diverse range of world-renowned artists and songwriters to explore how generative music technologies can responsibly shape the future of music creation”…
Universal Music Group isn’t the only major music company to endorse Deezer’s new ‘artist-centric’ royalties model.
On Monday (November 13) it was confirmed that Warner Music Group – the world’s third-largest music rights company – has also partnered with Deezer on the new payout system for recorded music royalties.
That partnership, initially at least, centers on one territory: Deezer’s home market of France.
Deezer’s ‘artist-centric’ model was announced by the DSP in conjunction with Universal Music Group in September.
MBW understands that Warner Music Group, like Universal, has been receiving royalties from Deezer under an ‘artist-centric’ system since October 1 in France…
TikTok has launched a new feature called “Add to Music App” that lets its users save songs they discover via TikTok on the streaming services where they listen to their music.
According to an announcement from TikTok on Tuesday (November 14), the Add to Music App feature is launching “in partnership with the major music streaming services, including Amazon Music and Spotify“.
MBW has confirmed that this feature is also available for Apple Music users. On Amazon Music, this feature is available for Prime members and Amazon Music Unlimited customers.
Add to Music App will initially be rolled out over the coming weeks for users in the US and UK with testing in more markets to follow.
South Korea-headquartered music giant HYBE has officially expanded into the booming Latin Music market.
On Monday (November 13), the company behind K-pop megastars BTS confirmed its acquisition of Latin Music company Exile Music, an affiliate label of Spanish language entertainment studio Exile Content.
Exile Content is a division of Candle Media, which is led by prominent entertainment executives Kevin Mayer and Tom Staggs.
By acquiring the Exile Music label, HYBE is launching a Mexico-based Latin Music arm called HYBE Latin America, which, according to the Korea Times will be led by former YG Entertainment executive Kah Jong-hyun. The exec takes up the role of CEO at the new division…
Warner Music Group has posted its fiscal Q4 (calendar Q3) and FY financial results ending September 30, 2023.
WMG’s total revenues for its full fiscal year (the 12 months ended September 30) “eclipsed” $6 billion ($6.037bn) for the first time in the company’s history.
That FY figure – encompassing recorded music, music publishing and other activities – was up 3.9% YoY at constant currency.
In calendar Q3 (the three months ended September 30 and the company’s fiscal fourth quarter), WMG generated total revenues of $1.586 billion across recorded music, music publishing and other activities. That Q3 revenue figure was up 4.5% YoY at constant currency.
The quarter included successful releases from the Barbie soundtrack, FIFTY FIFTY, Ed Sheeran, MISAMO and Zach Bryan…
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