The first ever global study measuring the economic impact of AI in the music and audiovisual sectors calculates that Generative AI will enrich tech companies while substantially jeopardizing the income of human creators in the next five years. This is one of the key findings of the study commissioned by CISAC (International Confederation of Societies of Authors and Composers, representing over 5 million creators), and conducted by PMP Strategy.

Key Findings:

• Music: Creators’ revenues at risk of loss by 2028 – 24%
• Audiovisual: Creators’ revenues at risk of loss by 2028 – 21%
• The market for Generative AI content will grow from €3 billion now to €64 billion by 2028
• Revenues of Generative AI services in music and audiovisual projected to rise from €0.3 billion to €9 billion by 2028

The Songwriters Association of Canada (S.A.C.) remains committed to fiercely advocating for creators’ rights. We urge policymakers to safeguard creators’ livelihoods by implementing transparency rules and fair remuneration practices.

📖 Read the full article here:
https://www.cisac.org/Newsroom/news-releases/global-economic-study-shows-human-creators-future-risk-generative-ai