AI in Music: 82% of Artists Worried About Future Financial Impact

The report highlights that many musicians believe advances in generative AI could put them at financial risk

A new study by the music rights organization APRA AMCOS has found that a significant percentage of musicians are “concerned” about the impact of AI on music.

In what is described as “the largest study of its kind,” conducted with 4,200 artists in Australia and New Zealand, APRA AMCOS revealed the “potentially devastating impact” of AI on musicians in the region.

The study found that 82% of artists are “concerned” that the use of AI in music could potentially put them out of work in the future and leave them at financial risk.

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APRA AMCOS also reported that up to 23% of artists' revenues could be at risk due to advances in generative AI by 2028, with an “estimated cumulative total damage of over half a billion Australian dollars (£257 million).”

“[This report] examines the economic dimension and trends in this fast-growing market, as well as the attitudes of music creators,” says Prof. Dr Klaus Goldhammer, CEO of Goldmedia GmbH research group, who conducted the study.

“Australia and New Zealand are not just adapting to AI-driven changes – they are leading the way, setting a benchmark for the rest of the world.”

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Despite concerns, 38% of those surveyed also said they use AI in their work, while 54% agreed that it can assist the creative process when making music.

More than two-thirds of participants believe that the “risks of AI use outweigh its possible opportunities,” with almost all agreeing that policymakers should “pay more attention” to the challenges and copyright issues that come with the use of AI in music. Read the full report by APRA AMCOS here.

H/T Mixmag