Generative AI Music Market Will Be Worth $3B by 2028, Says Sacem and Gema Report

Studies on the future of AI in music, too, confirm its relevance. A new report by Sacem and GEMA predicts that the global market for generative AI in music will be worth more than $3B by 2028. According to the publication, 27% of authors’ and creators’ revenue is at risk in the medium term, which would equal a revenue loss of $2.9B for Sacem and GEMA members by 2028. Additionally, about EUR 950m in copyright royalties will be at risk in Germany and France if creatives do not get to participate in AI revenues.

Artists do not feel optimistic about these results: 71% of creators from the two countries believe that AI represents a threat to their future and income, while 64% of respondents consider the opportunities disproportional to the potential risks. Thus, most creators argue for more transparency and protection in relation to copyright, and 93% say that policymakers should pay closer attention to the potential impacts and repercussions. However, although most participants are deeply concerned, 35% choose to dabble in AI, while 13% consider themselves potential AI users. 26% say they would rather not, and 19% completely refuse to work with AI tools.

AI was also a topic during the EU parliament’s most recent discussion and vote in favor of music streaming royalty changes. Members have suggested the introduction of a new label to inform the public when a song has been generated by AI. Moreover, they have urged tackling ‘deep fakes’ that use the identities and voices of artists without their consent. Considering the unpredictable character of AI-related innovation, it is challenging to predict how much control and security artists will have in the future.