AI startup Boomy looks to turn the music industry on its ear

Music publishers have been on a spending spree in recent years, buying the catalogs and copyrights for songs of famous musicians at a frantic pace. Last December, Universal Music Publishing Group bought up Bob Dylan’s entire discography in a deal estimated at more than $300 million. Similarly, Stevie Nicks sold an 80 percent share of her works to Primary Wave Music for an estimated $100 million that same month. But as all this money changes hands for the industry’s biggest stars, one songwriting startup has plans to open the firehose of music royalties to the everyman.“You see these huge deals, like the Bob Dylan deal with the publishing rights and all this money,” Alex Mitchell, co-founder and CEO of Boomy told Engadget. “It started with a recognition that most people are going to be left out of that and it caused us to have a conversation about equity in the music industry, 'how do we fairly remunerate artists, what's the role of labels,' there's just chaos happening in the music industry right now.”Mitchell realized that one major obstacle keeping amateur musicians from becoming published musicians was a technological one. Setting up a home recording studio is no small task, and teaching oneself how to navigate the hyper-granular control schemes of professional-grade DAWs (digital audio workstations) like Ableton Live or Pro Tools can take months, if not years, to fully master. But what if you had an AI-based co-writer to handle the heavy technical lifting instead,... Continue reading at 'Engadget'

[ Engadget | 2021-08-22 16:00:37 UTC ]
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