Artificial intelligence (AI) continues to have an impact on so many Industries. Industry projections estimate that by 2025, AI marketing will hit the $60 billion mark. By 2030 the global GDP will increase by 15.7 trillion due to AI.
The music industry is also jumping onto the AI bandwagon. We can expect it to influence all processes. Such include the creation, consumption, and marketing of music.
Our article explores all you need to know about how AI is transforming the music industry. Let the drum roll begin.
1. Growth Opportunities through AI Adoption
The dependence on human labor can make processes slow and time-consuming. The repetitive nature of some of the tasks can be tiresome and prone to human error. AI augments human capabilities resulting in higher efficiency and productivity.
Let's take the example of music creation. AI can analyze data in different compositions. It reveals patterns and characteristics that give rise to good music. You can also combine different elements to come up with new compositions. Such processes can provide a lot of help to musicians and music producers.
You can find these on platforms like Magenta from Google and Flow Machines from Sony. The concern for many would be that AI could kill creativity. But, we are pretty confident that this will not be the case.
Rather it will enhance creativity while providing efficiency in the processes. AI technology can help with composition and music arrangement. But, the human role remains constant. The musician must give feedback, depending on their vision for the final output.
Amper is one such AI platform. The musician selects genre and music length. The AI takes over to make the music. The composer then makes relevant tweaks and edits. He can add or remove some instruments or vocals.
AI is critical for music mastering that results in better quality tracks. The process can be costly. Many musicians find it a major stumbling block when it comes to releasing music.
AI technologies cut costs and the time it will take to complete the process. Software like LANDR can complete the task in minutes.
SoundCloud also has an online mastering tool that is popular amongst independent artists. The best part about the online mastering tools is you do not need to be tech-savvy to use them.
2. The Use of AI Data for Music Marketing
AI is opening up tons of potential for music marketers. It all depends on your free music marketing strategy.
You can use AI to:
- Determine audience engagement with the content through the use of data. The insights reveal the collections, free music downloads, play-per-payer, and follower behavior. Pattern tracking helps target audiences with the right content resulting in more revenue.
- Data filtering to convert non-paying listeners to paying ones. The insights from the filters help with designing outreach strategies. Markets can produce better content to increase audience engagement.
- AI and machine learning make recommendations for music on YouTube or other platforms. It provides an opportunity to grow viewership while introducing new content to audiences. Unsupervised learning allows for deeper insights into viewership based on viewing patterns.
- AI helps with the automation of marketing tools. Marketers can personalize content by learning the consumption behavior of audiences. Take the example of free music promotion sites like Spotify. The Platform uses machine-learning and big data insights to make music recommendations. Audiences get personalized playlists without the hassle of searching through tons of tracks. The AI-powered Spotify Discovery weekly provides a curated music list for every listener.
3. Good Music vs. Genre Music
What happens when you are choosing music by yourself? You have a leaning towards a particular genre. Within the genre, you also confine yourself to the artist you like. There is nothing wrong with that.
But, you could be missing out on other artists that you could enjoy. AI is opening up the listening experience like never before. The AI filtering engines go through thousands of tracks every single day.
They then pick out what you may like based on past listening behavior. With the filtering engines, it is not about a single genre. What you get is a broad mix of ‘good music’ that has different genres and artists. It provides an opportunity for undiscovered artists to make a mark in the industry.
Noise Cancelling technology provides an enhanced sound that makes listening to your songs the best experience, reducing distractions while tuned in to your favorite genre of music. The 900 Legacy Headphones digital hybrid active noise cancelling helps eliminate distractions providing 98% noise reduction by using both the outside (feed-forward) and the inside (feedback) microphones. The 24-bit depth/192 kHz sampling rate of digital noise filtering gives the 900 Legacy Headphones the most precise and accurate noise-cancelling performance.
New Talent Discovery and Royalty Collections with AI
Advanced analytics such as machine learning and predictive modeling helps with talent discovery. Warner Bros mines thousands of tracks from streaming sites like Soundcloud and Spotify.
They also do the same for music blogs, touring data, and social media sites. The AI technology uses algorithms to review streaming sites to find new talent.
The scouting platform, Instrumental, uses machine learning to look for potential talent. Amazon is also using AI to predict how popular books, films, or music will be in the future.
The music industry also has a major challenge addressing the issue of compensation. Songwriters, composers, artists, and reps should earn royalties. But, it can be difficult to track consumption, especially in the digital landscape.
Furthermore, the metadata that contains relevant information is not in one central location. AI can help overcome such challenges. Spotify AI audio detection tools give publishers and artists control over royalty payouts.
Amuse, the indie distribution platform uses Advanced Analytics to predict and distribute royalties. Other tools like Muso AI and Musiio Tag help with metadata validation and royalty collections.
YouTube utilizes AI to flag down copyright content. It ensures that no one benefits through illegal means. The same platform also automates ad monetization for higher efficiency.
Artificial intelligence is already making significant changes in the music industry. Listeners get music recommendations based on past listening behavior. Marketers have access to data-driven insights. Such can help with the targeting and personalization of content.
Talent discovery, royalty payment and so much more are easy with AI-powered tools. Furthermore, there is higher efficiency, time-saving, and lower costs in the process. The future is bright for the music industry and AI. It will be an interesting space to watch.