ABBA’s Björn Ulvaeus warns of AI in music industry

A new study by the International Confederation of Societies of Authors and Composers (CISAC) found that human creators are “set to lose billions” due to GenAI.

Abba’s co-founder and president of CISAC, Björn Ulvaeus, responded to the report by warning that poorly regulated artificial intelligence has “the power to cause great damage to human creators, to their careers and livelihoods.”

It stated that the market for GenAI music and audiovisual content will rise from $3 billion now to $64bn in 2028, while revenues at risk of loss for creators by 2028 will be cut by almost a quarter in music, and over 20% in audiovisual.

This amounts to a cumulative loss of $22bn over the 5 years, according to the report.

In addition, the report states that GenAI music is expected to account for approximately 20% of traditional music streaming revenues and around 60% of music library revenues.

Further, translators and adaptors for dubbing and subtitling are said to experience the strongest impact, with over half of their revenue at risk. At the same time, screenwriters and directors could see their revenues hit by 15 to 20%.

Ulvaeus said that policymakers must “get these regulations right, protect creators’ rights, and help develop an AI environment that safeguards human creativity and culture” to prevent such damage.

VP of CISAC, film director and screenwriter Ángeles González-Sinde Reig, added: “This study highlights the need for ethical and economically sound policies that put creators’ rights at the very centre of the AI world.

“AI tools can profoundly support our work as storytellers and filmmakers. We must not forget that it is human creators who provide the fuel of the AI world and who must be at the centre of policymaking and regulation.”