Warner Music Group’s CEO says AI songs are coming whether you like it or not
Oct 2, 2023
auto_awesome
Robert Kyncl, CEO of Warner Music Group, discusses the impact of AI on the music industry and the challenges of getting heard in the digital age. He also talks about the growth of the music industry's subscription model and the relevance of crypto, NFTs, and blockchain in connecting artists with fans. Kyncl predicts AI-generated songs could be a reality within 18 months.
Collaboration between music labels and tech platforms has led to tremendous growth in the music subscription model.
AI-generated music in the music industry is still in early stages, and artists should have a choice in participating in it.
Deep dives
The Evolution of the Music Business and Collaboration with Tech Platforms
Robert Kinsil, the CEO of Warner Music Group, discusses his experience as an executive at YouTube and the transition to leading Warner Music Group. He highlights the importance of collaboration between music labels and tech platforms like YouTube and Spotify. Kinsil emphasizes that the relationship between the music industry and tech platforms is not a zero-sum game, but rather a partnership that has led to tremendous growth in the music subscription model. He also discusses the challenges of sustaining success in the music industry and the role of labels in developing and supporting artists' careers.
The Role of AI in Music and its Impact on the Industry
Kinsil explores the potential of artificial intelligence (AI) in the music industry. He discusses the use of AI to generate songs based on prompts, emphasizing that while AI-generated music may show up in the near future, it is still early in its development. Kinsil highlights the importance of embracing technology and ensuring that artists have a choice in participating in AI-generated content. He also compares AI advancements in the music industry to those in the movie and TV industry, noting that music is often at the forefront of innovation.
The Value of Music Subscriptions and Price Elasticity
Kinsil discusses the value of music subscriptions and the potential for price optimization in both emerging and mature markets. He argues that music subscriptions offer incredible value, providing access to a vast catalog of music. Kinsil addresses the skepticism regarding raising subscription prices and emphasizes that the music industry needs to consider different pricing models to ensure artists and songwriters receive fair compensation. He believes that music subscriptions are currently the best value of any subscription in the world.
The Future of Music Ownership, NFTs, and Blockchain
Kinsil provides insights into the future of music ownership and the potential impact of blockchain and non-fungible tokens (NFTs) in the music industry. While acknowledging the potential of ownership options for super fans, he emphasizes that the industry still needs to establish rules and rights around AI-generated content before fully exploring the opportunities. Kinsil acknowledges the need for collaboration between distribution platforms, language model companies, and governments to ensure proper protection and choice for artists.
When Robert Kyncl (@rkyncl) worked at YouTube, he made deals with companies like Warner Music Group. Now, he’s the CEO of Warner Music Group. Vox’s Peter Kafka interviewed Kyncl live on stage at the Code conference. Kyncl explains how Warner Music Group approaches AI both as a tool and as an intellectual property concern, and why he wants Spotify to charge more. And even though the blockchain and NFT craze has passed — Kyncl is still optimistic about its business potential.
Host: Peter Kafka (@pkafka), Senior Editor at Recode
More to explore: Subscribe for free to Recode Media, Peter Kafka, one of the media industry's most acclaimed reporters, talks to business titans, journalists, comedians, and more to get their take on today's media landscape.
About Recode by Vox: Recode by Vox helps you understand how tech is changing the world — and changing us.