AI News, Machine Learning & Artificial Intelligence Archives artificial intelligence
- On 6. marts 2019
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Machine learning is helping unsigned artists make Spotify pay
In 1997, David Bowie partnered with an insurance company to create Bowie bonds – a kind of asset-backed bond that gave him (and investors) a share of the current and future royalties of his music.
An advance effectively functions as a loan – financed by revenue from other, successful artists – and the artist has to pay it back if and when their music starts to bring in money too.
Amuse, a Swedish music distribution startup founded by former Universal Music Group label heads and other industry experts, is trialling a new service that aims to let more artists access future royalties before they earn them, using machine learning to predict what those royalties could be.
An artist who has 300 followers, all of whom are from Brazil, will be offered a lower Fast Forward Advance than someone who has 5,000 followers that are spread out throughout the world or are in the country the artist comes from (so far, the bulk of the artists that use Amuse are Scandinavian, partially because Amuse is headquartered in Stockholm).
Although Amuse is also a record label with some artists signed to it, the major difference is that it’s also a free distribution service, so an artist simply has to sign up to use it (without signing to the label) in order for their data to come into Amuse’s hands and for them to be offered an advance.
- On 7. marts 2021
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