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5.6 - AI Sends Creatives into Crisis
AI is not only harvesting original music to generate it’s own cheap versions but taking away revenue from creatives. For the first time that amount has been calculated at about a quarter of the income of the creator within the next 5 years.
The study on the global economic impact of Generative AI in the Music and Audio Visual Industries was released earlier this month in Paris. The study was put out by the International Confederation of Societies of Authors and Composers (CISAC), representing more than 5 million audio visual creators worldwide.
And it’s president, former ABBA band member Björn Ulvaeus, said that all eyes are on Australia and NZ because of our strong policy making to protect creatives.
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By Nell Schofield and Brett SolomonAI is not only harvesting original music to generate it’s own cheap versions but taking away revenue from creatives. For the first time that amount has been calculated at about a quarter of the income of the creator within the next 5 years.
The study on the global economic impact of Generative AI in the Music and Audio Visual Industries was released earlier this month in Paris. The study was put out by the International Confederation of Societies of Authors and Composers (CISAC), representing more than 5 million audio visual creators worldwide.
And it’s president, former ABBA band member Björn Ulvaeus, said that all eyes are on Australia and NZ because of our strong policy making to protect creatives.