If you thought the flow of new music online was already fast, it’s about to get much, much worse. New data projections from Luminate are projecting a major flood of new music in the coming months.
Option paralysis is real
A whopping 120,000 new tracks are hitting music streaming services each day in Q1 2023. (You read that right, every single day!)
Let’s break it down: We’re talking about 10.08 million new tracks uploaded just in the first three months of 2023. If we keep up this pace, we’re looking at over 43 million new tracks by the end of the year. This marks a serious acceleration from the 93,400 tracks per day in 2022.
What’s causing this flood of new tracks?
During Universal Music Group’s Q1 earnings call, Sir Lucian Grainge said that much of the music being released is due to AI-produced content, which he claims lacks quality and consumer appeal.
AI music is a “content oversupply” that feeds an ever-expanding ocean of content that threatens to flood the marketplace
There are few more staggering statistics than this slide from Luminate that references the vast number of songs — amounting to tens of millions — on music streaming platforms in 2022 that don’t manage to garner even one listen.
The bigger picture: Learning the lessons of Napster, the music industry has learned to treat innovation with healthy skepticism. According to Martin Clancy, editor of the 2022 book Artificial Intelligence and Music Ecosystem, developments are more than an automated drum machine, computerized synths, or even Napster. He reminds us that AI is different because of its speed, output, and its ability to outcompete human endeavour with volume is unparalleled.
Table stakes: While it’s great to have a variety of music to choose from, the flooding of platforms with too much music could potentially further dilute the value of music, making it harder for artists to stand out and earn a living from their work. Moreover, it raises new questions about copyright and the potential liability of those uploading AI-made music that violates copyrights.
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