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ChatGPT for music, Spotify growth/loss and new economic model for streaming
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Google is creating the ChatGPT for music creation
Google has developed MusicLM, an AI capable of generating music from text prompts. The model outperforms previous music generation models in audio quality. The model can be trained on both text and melody while transforming whistle and hum tunes to the style of the text prompt. However, it doesn't handle vocals well and tends to rely on repetition. Audio examples are inside the link.(Link)
33 million new users to Spotify in Q4 2022
Spotify has reported a record high of 33 million users during Q4 2022 and a 20.44% year-over-year boost in its monthly active users (MAUs) to a total of 489 million. Out of these 489 million MAU, 205 million are paid users and 295 million are ad-supported users. On the other side, Spotify also reports their operating loss had climbed from €228 million in Q3 to €231 million in Q4. Climbing in the number of users and operating loss. (Link)
UMG & Tidal plans a new economic model for streaming
Universal Music Group (UMG) and Tidal have announced plans to work together to "explore an innovative new economic model for music streaming that might better reward the value provided by artists and more closely reflect the engagement of Tidal subscribers with those artists and music they love". UMG and Tidal will research "how, by harnessing fan engagement, digital music services and platforms can generate greater commercial value for every type of artist" (Link)