Official announcements from YouTube, Sony, Warner, and Universal

$GOOGL's YouTube in Talks with Sony, Warner, and Universal for AI Music Tool

Jun 26, 2024, 01:48 PM

YouTube is in discussions with major record labels, including Sony, Warner, and Universal, to license their songs for a new AI music generation tool. This tool aims to mimic popular singers, and YouTube is offering lump sums of cash and upfront payments to encourage more artists to participate. Currently, only a few artists, such as Charli XCX, have signed on to an earlier test phase. The negotiations come as the music industry grapples with the legal and creative impacts of artificial intelligence. The Financial Times reported that YouTube's parent company, $GOOGL, is leading these efforts.