Spotify, agreement with Universal Music on Ai: fan covers and remixes in app
The streaming platform announces the new licensing agreement. Plus diversifies with concert pre-sales and podcast prompts
Spotify and Universal Music Group announce the signing of a licensing agreement that goes beyond traditional music listening and embraces the reworking of the major record company's repertoire by listeners of the streaming platform, who will be able to create covers and remixes of their favourite songs.
The most relevant novelty concerns the launch of a technology based on generative artificial intelligence, designed to allow fans to reinterpret the songs of artists who join the project (against payment of fees of course). The idea is evidently to explore new business opportunities in a horizon that, with the Ai within everyone's reach, could increasingly enhance user generated content.
The system will introduce an unprecedented value sharing model: artists and authors will be able to benefit directly from revenues generated by covers and remixes created with the Ai, provided they are authorised and distributed on Spotify.
The new tool will be available as an additional paid feature for Spotify Premium users.
"Tackling the music industry's most complex challenges has always been our mission, and now is the time for fan-created covers and remixes," said Alex Norström, co-CEO of Spotify. "We are building a system based on consensus, recognition and fair remuneration for artists and authors. At every stage of technological transformation, we have partnered with Universal to make the music ecosystem richer for fans and more sustainable for creators."
