Universal Music was recently selected for the second time on "Fast Company's 2024 World's Most Innovative Companies" list. It is also the first time that a mainstream music company has been included on the list for the second time.
When introducing the company's achievements in the past year, "Fast Company" pointed out that Universal Music advocates the establishment of a healthier and more sustainable music ecosystem, allowing artists and songwriters to thrive in the next few decades, and Treat artificial intelligence responsibly. This approach will pay more attention to artistic value and better coordinate the relationship between artists and fans, thus providing higher value to the platform.
“While many music industry veterans were concerned about the emergence of generative artificial intelligence last year, Universal Music Group, the world’s largest music company, sees an opportunity. As the parent company of labels such as Interscope, Geffen and Def Jam, , Universal Music Group has been coordinating an industry-wide response to the technology, while working behind the scenes to rework how streaming royalties are distributed — all while looking for 'artist-centric' solutions to the challenges posed by AI. "Threats coming."
"Fast Company" also pointed out that Universal Music Group played an important role in promoting the "human art movement" last year. The movement convened more than 150 organizations inside and outside the industry to jointly establish a framework for action to ensure the responsible use of artificial intelligence for creative work while respecting copyright and the image of artists.
"Fast Company" also highlighted Universal Music Group's introduction of a new "artist-centric" streaming royalty distribution model, which essentially breaks through the entrenched royalty distribution model of the past decade.
Text/Reporter from Beijing Youth Daily Shoupenghuan
Editor/Cui Wei
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