ABBA, the iconic Swedish pop group, has left a lasting legacy in the music industry, with Bjorn Ulvaeus being a key figure in its success. Following his time with ABBA, Ulvaeus continued to make significant contributions to the world of music.
One of these was taking on the crucial role of the president of CISAC, a global non-profit organization dedicated to defending the rights and remuneration of composers and songwriters worldwide.
In this influential position, Ulvaeus has recently shed light on the substantial “existential challenge” that Artificial Intelligence (AI) poses to the music industry, pointing out the potential difficulties that musicians may face as AI continues to evolve and integrate into various sectors, including entertainment.
This comes after iconic singer Cher voiced her concern over AI from a fake version of her vocal performance of a Madonna track, reported by the AI Insider last week.
In a forward to a new report from CISAC, Ulvaeus wrote:
“This year’s results show that the collective management system, despite all the enormous challenges it faces in adapting to digital, is still robust and effective. CMOs (collective management organizations) have the backs of the creators they serve and are now delivering more money to more creators than ever before.
And that is good news — because, fresh from Covid and the economic squeeze, what we now face is another very serious, existential challenge — that of artificial intelligence. AI will radically change the world for creators and the creative industry.
It demands international leadership and a strong united front from all parts of the creative industry.”
CISAC’s latest report indicates a positive trend for the industry, as royalty collections for songwriters and composers have rebounded to pre-pandemic levels. However, Ulvaeus urges caution and vigilance, suggesting that the challenges AI presents could be more formidable than those encountered during the pandemic. He highlights the need for the music industry to adapt and prepare for these impending changes.
Gadi Oron, the Director General of CISAC, reflects on the remarkable recovery highlighted in the 2022 report, underscoring the significant role of digital platforms in this resurgence. The shift towards digital, driven primarily by streaming and subscription services, has not only restored the industry’s financial health but also revolutionized the market. It has altered the playing field for creators, opening up new opportunities for growth and innovation.
“This is a remarkable return to growth as our whole sector fully recovers from the disastrous three-year pandemic.
While live and public performance have bounced back strongly, the recovery is driven most of all by digital which has now become creators’ largest source of income. Streaming and subscription have not just revived the status quo, they have transformed the market, changed the game for creators and paved the way for future growth.”
— Gadi Oron, the Director General of CISAC
Together, Ulvaeus and Oron’s insights provide a comprehensive view of the current state of the music industry, acknowledging its resilience while also pointing towards the urgent need to address the challenges and changes brought about by AI. Their leadership and foresight emphasize the importance of preparing creators for the future, ensuring that they can navigate the evolving landscape of the music industry successfully.
Featured image: Credit: CISAC
