UDIO
Spotify forecasts fourth-quarter profit above estimates on AI bets
Spotify is predicting a stellar fourth-quarter profit that could outshine Wall Street's forecasts, largely driven by its innovative AI features. The company anticipates an operating income of €820 million, well above analysts' expectations. In the previous quarter, Spotify's operating income hit €672 million, aligning with forecasts. Co-CEO Alex Norstrom highlighted the platform's robust foundation and growth potential as they continue to invest in cutting-edge technology and enhance user engagement.
Suno releases new AI music models in partnership with Warner Music, BMG
This move comes amid increasing scrutiny of AI music generators like Suno and Udio, as artists fret about uncompensated use of their work and streaming platforms like Deezer and Spotify working to improve transparency around AI-generated tracks.
Spotify forecasts weak profit as user growth slows in North America, Europe
Spotify anticipates lower third-quarter profit, missing Wall Street expectations. Slowing user growth in key regions impacts the streaming giant's performance. New AI features and a fan cover agreement aim to attract more users. Revenue is projected to slightly exceed estimates, while active users fall short. The company's shares have experienced a notable decline this year.
AI music startup Suno raises funding at $5.4 billion valuation
AI music startup Suno has secured over 400 million dollars in funding, valuing the company at 5.4 billion dollars. This investment will help Suno develop new tools for its platform. The company is also working on partnerships with music labels. This move comes as AI music technology faces scrutiny from artists and competition from rivals like Udio and Spotify.
Spotify strikes deal with Universal Music to let premium users create AI covers, remixes
The companies did not disclose the financial terms of the deal or which artists will participate in the new feature in their joint announcement on Thursday. Universal Music is home to artists including Taylor Swift, Ariana Grande, Drake and Billie Eilish.
AI song generator startups Suno, Udio angered the music industry. Now they're hoping to join it
AI music companies Suno and Udio are facing legal challenges from major record labels over copyright infringement. These startups are now seeking to collaborate with the music industry. While some artists fear job displacement, others see potential in AI as a creative tool. Negotiations are ongoing to find a path forward for AI-generated music.
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AI song generator startups Suno and Udio angered the music industry, now they're hoping to join it
Much like early experiences with ChatGPT or AI text-to-image generators, trying to make an AI-generated song on platforms like Suno or its rival, Udio, can seem a little like magic. It takes no musical skills, practice or emotional wellspring to conjure up a new tune inspired by almost any of the world's musical traditions.
AI music platform Suno unveils deal with Warner to compensate artists
Suno and Warner Music Group have partnered to compensate artists for AI-generated music, resolving a lawsuit over unauthorised catalogue use. This landmark pact allows artists to opt in for their likeness and compositions to be used in new AI creations, opening new revenue streams. The agreement follows a similar deal between Udio and Universal Music Group.
Warner Music and AI startup Udio settle copyright battle and ink license deal
Warner Music Group resolved its copyright battle with Udio and signed a deal to work with the AI music startup on a new song creation service that will allow users to remix tunes by established artists.
AI song generator Udio offers brief window for downloads after Universal settlement upsets users
AI companies are now fighting so many copyright lawsuits that a tech industry lobby group, the Chamber of Progress, last week called on President Donald Trump to sign an executive order directing federal attorneys "to intervene in legal cases" to defend the industry's practice of building generative AI tools by feeding them on copyrighted works.
Universal says struck first licensing deal for AI music
AI firms from industry leader OpenAI to music specialists like Udio and competitor Suno have previously been accused by major record companies of using their songs to "train" artificial intelligence models which can produce music that apes human artists.
Universal Music settles copyright dispute with AI firm Udio
Universal Music Group has settled a copyright infringement lawsuit with AI company Udio, agreeing to collaborate on new creative products. The partnership will launch a platform next year using AI trained on licensed music. This follows a lawsuit filed by major labels accusing Udio and Suno of mass copyright infringement by using their recordings to train AI music generators.
Universal Music, Warner Music nearing AI licensing deals, FT reports
Universal Music and Warner Music are reportedly close to striking landmark AI licensing deals, potentially finalising within weeks, the Financial Times said. The agreements would allow AI firms to legally use music content, signaling a major shift in how record labels engage with artificial intelligence technologies.
Top music body says AI firms guilty of 'wilful' copyright theft
A global music industry group accused AI firms, including OpenAI, Suno, Udio, and Mistral, of large-scale copyright infringement by exploiting music catalogues without paying royalties.
One Tech Tip: Is that song by AI or a human? Here are some things to check
The rise of AI song generators like Suno and Udio is transforming the music industry, prompting debates about transparency and authenticity. Methods to detect AI-generated music include background checks on artists, examining song tags on platforms like Deezer, and using AI song scanners.
If you can't sink the ship, buy it!: Major record labels court AI music startups like Suno and Udio amidst the million dollar copyright lawsuits charged against them.
Amidst a lawsuit, Universal, Warner, and Sony are in talks to license their music catalogs to AI startups Suno and Udio, signaling a shift in the industry. These discussions aim to settle copyright disputes and explore new revenue streams through AI-generated music, reflecting the industry's adaptation to technological advancements and the potential for AI in music creation.
AI-generated music accounts for 18% of all tracks uploaded to Deezer
The rising use of generative AI in creative industries has triggered a wave of lawsuits, with artists, authors and rights holders accusing AI firms of using copyrighted material without consent or compensation to train their models. Among the targets are AI music tools Suno and Udio, which are facing legal actions from Universal Music Group, Warner Music Group and Sony Music.
Music labels' AI lawsuits create new copyright puzzle for US courts
The big record labels are worried too, Sony Music, Universal Music Group and Warner Music sued Udio and another music AI company called Suno in June, marking the music industry's entrance into high-stakes copyright battles over AI-generated content that are just starting to make their way through the courts.
Music labels sue AI companies Suno, Udio for US copyright infringement
Major record labels Sony Music, Universal Music Group, and Warner Records sued AI companies Suno and Udio for mass copyright infringement in using recordings to train music-generating AI systems.
AI music era is here. Not everyone is a fan
"Simplicity's Delight" is a song created using software from Suno Inc., a Massachusetts-based artificial intelligence startup. The song, which can generate human-sounding music in seconds, is part of a growing trend of AI startups automating the music-making process. The software can generate songs ranging from electro-pop to acoustic tunes. The AI-generated songs are now available on platforms like Spotify. However, concerns have been raised about the livelihoods of artists and the potential for the internet to be filled with half-baked, computerized songs.
Transerv promotes digital payments among Vasai fisherfolk
The Sarvodaya Fishermen Co-operative Society at Pachubandar in Vasai is the first fishermen co-operative in the country to accept payments via digital mode during a fish auction.
Micromax, TranServ, Visa join hands for payment solution
mVisa, which can be pre-embedded into different types of smartphones, will be available to all Micromax smartphone users.
Udio launches mVisa through Visa Developer Platform
Visa Developer enables partners to connect to Visa over web services making it considerably easier and enabling them go to market faster than traditional methods.
Sodexo does not want to be left behind in a digital world
While Zeta's products are mainly mobile phone based, in tie-up with RBL Bank and MasterCard, it also offers a plastic card which is accepted across a wide range of merchants.
Udio Partners with merchant discovery platform Crownit
The wallet is being leveraged by industry players such as BookMyShow, Portea, Askmebazaar.com & more, in addition to a host of smaller merchants and Facebook stores.
Yu to sell Yunicorn for Rs 12,999 on Flipkart from June 7
The wallet is backed by Udio, owned by Transerv, which has also enabled the wallet for Micromax smartphones. This is the first phone which has a native mobile wallet.
TranServ gets senior VPs from MasterCard and Mobikwik
IDFC Spice fund and Micromax Informatics backed TranServ has appointed Salil Mody as senior vice president of corporate strategy.
Micromax bets on mobile wallet Udio as key differentiator
Micromax aims to have 15 million customers doing cashless transactions on its mobile wallet – Udio – within this year.
Mobile wallet companies like Zeta, Transerv turn to corporate gifting and reimbursement biz for growth
These companies have developed digital meal vouchers that can be loaded into the employee’s wallet as tailored to the needs of Income Tax requirements.
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