A few years into the debate about AI’s potential economic impact on music, the jury is still out.

AI could be great for the music business, enabling new products and creating new revenue streams for artists and songwriters. Universal Music Group (UMG) has said as much. “We believe the commercial opportunity is potentially very significant,” chief digital officer Michael Nash said during the company’s earnings call on Thursday (Oct. 30), a day after it announced a licensing deal with AI music generator Udio. “These new products and services could constitute an important source of incremental additional new future revenue for artists and songwriters.”

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