Groundbreaking responsible AI tool to launch as paid add-on for Spotify Premium users
Spotify and Universal Music Group (UMG) today announced landmark recorded music and music publishing licensing agreements enabling Spotify to launch a new tool allowing fans to create covers and remixes of their favorite songs from participating artists and songwriters.
This groundbreaking tool will be powered by generative AI technology that will open up additional revenue streams and new ways to drive discovery. It introduces a creation model where artists and songwriters can directly share in the value generated through AI-driven licensed covers and remixes on the Spotify platform.
The new tool will launch as a paid add-on for Spotify Premium users and create an additional source of income for artists and songwriters, on top of what they already earn on Spotify.
“Solving hard problems for music is what Spotify does, and fan-made covers and remixes are next. What we’re building is grounded in consent, credit, and compensation for the artists and songwriters that take part. Through each technological transformation, we have worked together with Sir Lucian and his team to evolve the music ecosystem into a richer, more beneficial experience for fans and a more rewarding outcome for artists and songwriters,” said Alex Norström, Co-CEO, Spotify.
“The most valuable innovations in the music business always bring artists and fans closer together. That principle is at the heart of this pioneering AI-enabled superfan initiative, which is designed to support human artistry, deepen fan relationships, and create additional revenue opportunities for artists and songwriters. Building on our long track record of leading the industry through technology changes, and collaborating with Alex, Gustav, Daniel and the team at Spotify, this initiative is firmly artist-centric, rooted in responsible AI, and will drive growth for the entire ecosystem,” said Sir Lucian Grainge, Chairman & CEO, Universal Music Group.
About Spotify
Since its launch in 2008, Spotify has revolutionised music listening. Our move into podcasting brought innovation and a new generation of listeners to the medium. In 2022, we took the next leap, entering the fast-growing audiobook market—continuing to shape the future of audio. Today, more listeners than ever can discover, manage and enjoy over 100 million tracks, 7 million podcast titles, and 700,000 audiobooks on Spotify. We are the world’s most popular audio streaming subscription service with 761 million users, including 293 million subscribers, in 184 markets.
About Universal Music Group
At Universal Music Group, we exist to shape culture through the power of artistry. UMG is the world leader in music-based entertainment, with a broad array of businesses engaged in recorded music, music publishing, merchandising, and audiovisual content. Featuring the most comprehensive catalogue of recordings and songs across every musical genre, UMG identifies and develops artists and produces and distributes the most critically acclaimed and commercially successful music in the world. Committed to artistry, innovation, and entrepreneurship, UMG fosters the development of services, platforms, and business models in order to broaden artistic and commercial opportunities for our artists and create new experiences for fans. For more information, visit www.universalmusic.com.
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‘ Some details of this article were extracted from the following source newsroom.spotify.com ’
