Study: ¼ of musicians' income will be lost to AI by 2028!
In just four years, a quarter of musicians could have their financial income threatened by AI-generated music. The alarming statistics come from a new global study on the impact AI will have on the music industry.
Over the next five years, music creators could lose up to €10 billion, with an annual loss of €4 billion in 2028 if the rate of market penetration by generative AI continues.
A global economic study by the French-founded creators' rights organization Confédération Internationale des Sociétés d'Auteurs et Compositeurs (CISAC) has found that the use of generative AI is likely to enrich technology companies, while "putting significantly endanger the income of human creators".
As human creators lose out, the same €4 billion is projected to land in the hands of tech firms creating AI-generated music as the market for non-human authored music balloons to an annual value of €16 billion by 2028.
This will certainly be seen on streaming platforms, as automated playlists push consumers to listen to AI songs instead of human-made music. Much of this music will come in the form of background music heard in public settings and through passive playlists.
The problem will also be greater in the audiovisual field, where the market for AI-generated content is expected to grow to 48 billion euros by 2028, through video content created entirely by AI, together with production teams using the tools of AI for directing and script assistance.
Although some may consider these tools useful additions to artists' toolboxes, artists are more likely to lose out financially to tech companies that can create larger volumes of content at a cheaper rate through AI rather than hiring real musicians.
Importantly, artists are already losing out as these tools are being trained on works created by humans, almost entirely without their consent. Most current models use copyrighted works in their training without authorization.
The study shows the huge value that copyright works bring to Gen AI companies. Its findings point to a fundamental flaw opening up in the market, with creators' works being unfairly and unethically appropriated to boost the revenue of Gen AI providers, leaving the creators themselves out of that boost.
As the first study to assess the economic impact of generative AI on music and audiovisual creators globally, CISCA is calling on policymakers to change laws to protect the creative industries and the people who work within them.
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