The music industry is bracing for seismic changes as artificial intelligence (AI) continues to expand. A new report by the International Confederation of Societies of Authors and Composers (CISAC) predicts that music professionals will lose up to 25% of their income within the next four years. The audiovisual sector faces similar challenges, with projected losses exceeding 20% of revenue.
Currently generating €3 billion (A$4.9 billion) annually, the generative AI market is forecast to skyrocket to €64 billion by 2028, presenting a lucrative opportunity for tech companies at the expense of human creators.
Australia and New Zealand Lead the Charge
CISAC president Björn Ulvaeus highlighted Australia and New Zealand as global leaders in AI policymaking. He applauded Australia’s Senate select committee’s recommendations, which advocate for standalone AI laws and robust protections for creative workers.
“Australia and New Zealand can set a global example by ensuring AI enhances, rather than replaces, human creativity,” Ulvaeus stated.
The Senate inquiry emphasized the need to protect Indigenous Cultural and Intellectual Property, ensuring AI respects cultural heritage rather than exploiting it.
The Cost of Inaction
The report warns of dual threats to creators under current regulatory frameworks: unauthorized use of their work by AI models and reduced job opportunities as AI-generated content competes with human creations.
By 2028, AI-driven music is expected to comprise 20% of streaming platform revenues and dominate 60% of music library earnings. Meanwhile, AI developers in the music and audiovisual industries are projected to gain billions in unlicensed revenue.
Dean Ormston, CEO of APRA AMCOS, stressed the urgency of the issue:
“Our songwriters, composers, and publishers make Australian and New Zealand cultural exports unique. Governments must act decisively to safeguard their livelihoods and ensure the creative industry thrives in the age of AI.”
Shaping the Future of Creativity
Ulvaeus underscored the pivotal role of policymakers:
“Generative AI holds incredible promise but also poses significant risks. Whether AI empowers or harms creators depends on the regulatory choices being made today. It’s critical to establish protections that preserve human creativity and cultural heritage.”
As AI reshapes the creative landscape, the decisions of governments worldwide will determine whether creators can continue to flourish in an AI-driven world.
