How will Generative AI impact the Music and Audiovisual sectors, especially human creators revenues? 🎶 🎬
In collaboration with CISAC, PMP Strategy is publishing the first-ever global Gen AI impact study on creators in the Music and Audiovisual industries. While Generative AI unlocks new opportunities for creative industries, it raises substantial issues for creators’ protection and remuneration.
This multi-repertoire and global initiative analyses the evolution of the music and audiovisual Gen AI market over the next 5 years, and how it is set to have a multi-billion dollar impact on revenue streams for creators, from songwriters and composers to translators, directors, and screenwriters.
💡 Key highlights:
👉 The burgeoning Gen AI content market in Music and Audiovisual is set to grow exponentially, from €3 billion now to €64 billion in 2028.
👉 Gen AI outputs could put up to 24% of music and audiovisual creators’ revenues at risk by 2028, a cumulative loss of €22 billion over 5 years.
👉 Revenues of Gen AI services in music and audiovisual are projected to double each year, rising from €0,3 billion to €9 billion in 2028.
Despite providing the creative fuel of the Gen AI content market, music and audiovisual creators will not benefit from the Gen AI revolution: they risk losing a large share of their income due to Gen AI’s substitutional impact on human-made works, while they will not be compensated for the unlicensed use of their works by tech companies.
In this transformative era, it’s crucial to strike a balance that fosters innovation while safeguarding the creative community. CISAC calls on policymakers to establish a legal framework to ensure transparency in Gen AI services and fair remuneration for creators.
The study was commissioned by CISAC (International Confederation of Societies of Authors and Composers), the largest global network of collective of authors’ societies with over 6 million creators worldwide, represented by its President and ABBA co-founder Björn Ulvaeus.
📥 Full study available here.
Press contact :
Jennifer Campbell
+33 6 32 05 14 27
jcampbell@pmpstrategy.com
