A global report released Wednesday by the International Confederation of Societies of Authors and Composers (CISAC) predicts that artificial intelligence (AI) will significantly impact the creative industries, with workers in music and audiovisual fields expected to lose nearly 25% of their income by 2028.
The report raises concerns about how the rapid growth of GenAI, or generative AI, projected to expand from €3 billion (approx. $3.16 billion) in 2023 to €64 billion by 2028, could disrupt traditional revenue streams for creators.
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CISAC, which represents over 5 million creators worldwide, warns that the unchecked development of AI will benefit tech companies while threatening creators' rights and incomes.
GenAI models, which use unlicensed reproductions of creative works, are set to compete directly with human-generated content, reducing job opportunities and earnings.
The report states that AI-generated music could account for 20% of revenue on traditional streaming platforms and 60% of music library revenue by 2028. Meanwhile, developers and providers of AI in music and audiovisual industries are expected to earn billions from unlicensed uses of creators' works.
Australia And New Zealand Take Action
While the report details global risks, it points to Australia and New Zealand as examples of proactive policymaking. Björn Ulvaeus, CISAC president and former ABBA band member, praised the two countries for their efforts to create AI policies that protect creators while fostering innovation.
"In Australia, the new Senate select committee on AI report is encouraging and promising," said Ulvaeus. "By setting a gold standard in AI policy, one that protects creators' rights while fostering responsible and innovative technological development, Australia and New Zealand can ensure that AI serves as a tool to enhance human creativity rather than replace it."
Moreover, Australia's Senate recently issued a report recommending standalone legislation and stronger protections for creative workers.
Music Creators At Risk
The CISAC report concludes that without regulation, creators face a double threat: loss of income from copyright violations by large language models and reduced opportunities as AI-generated content competes with traditional works.
"AI has the power to unlock new opportunities, but if badly regulated, it also has the power to cause great damage to human creators, their careers, and livelihoods," Ulvaeus added.
In related news, earlier this year Sony Music Group (NYSE:SONY) warned companies and music streaming services that it prohibits the use of its content for data mining, web scraping, or AI training. This applies to all content under Sony Music Publishing and Sony Music Entertainment.
Furthermore, over 200 prominent musicians, including Billie Eilish, Katy Perry, Smokey Robinson and others, united to issue an open letter to artificial intelligence (AI) developers, tech companies and digital platforms.
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