Universal Music Group was selected as one of the top 50 global more innovative companies in Fast Company in 2024.

   [Tianji. com IT News Channel]Universal Music Group ranks first in the music industry.

    Universal Music Group was selected because of its leading position in the field of generative artificial intelligence and taking the lead in proposing a new "artist-centered" royalty distribution model for streaming media.

    (Santa Monica, March 19, 2024) Universal Music Group, the leader of the global music and entertainment industry, was selected as the prestigious "Fast  Company)》2024 Global * Innovative Companies "list. This is the second time that Universal Music Group has been selected in five years, and it is also the first time that a mainstream music company has been listed for the second time. This year’s list focuses on companies that have shaped their industries and cultures through innovation, set new standards and achieved remarkable milestones in various economic fields.

    Universal Music Group also ranks first in the classification list of the music industry.

    When introducing the company’s achievements in the past 12 months, Fast Company pointed out that Universal Music Group was established by Sir Lucian Granci, Chairman and CEO (Sir  Lucian  Under the leadership of Grainge, he advocates the establishment of a healthier and more sustainable music ecology, so that artists and songwriters can flourish in the next few decades and treat artificial intelligence in a responsible way. This way will pay more attention to artistic value and better coordinate the relationship between artists and fans, thus providing higher value for the platform.

    "Although many veterans in the music industry were worried about the emergence of generative artificial intelligence last year, Universal Music Group, the world’s largest music company, saw an opportunity. As Interscope, Geffen and Def  Universal Music Group, the parent company of record companies such as Jam, has been coordinating the response of the whole industry to this technology, and at the same time redesigning the distribution method of streaming media royalties behind the scenes-all of which are looking for’ artist-centered’ solutions to deal with the threat posed by artificial intelligence. "

    "Fast Company" also pointed out:

    "Universal Music Group promoted the ‘(Human  Artistry  Campaign (HAC) has played an important role. The movement has brought together more than 150 organizations inside and outside the industry to jointly establish a framework for action to ensure that artificial intelligence can be used responsibly to carry out creative work on the premise of respecting copyright and artists’ image. Universal Music Group advocated lobbying Congress to strengthen the supervision of artificial intelligence through this policy; Sue Anthropic, an artificial intelligence startup that uses copyrighted lyrics to train its model and generate protected lyrics; And guide strategic partners to better benefit from this technology. In August last year, Universal Music Group and YouTube jointly launched an artificial intelligence incubator, which was jointly built by many artists under Universal Music Group, from Frank  Sinatra estate management will go to John  Legend, then to Charli  XCX and Troye  Sivan, etc In October, BandLab, a music creation platform driven by artificial intelligence, signed the HAC principle and promised to cooperate with Universal Music Group to promote human artists to * priority in its music production tools. "

    "Fast Company" also emphasizes that Universal Music Group has introduced a new "artist-centered" streaming media royalty distribution model:

    "At the same time, faced with the challenge of massive music content pouring into the streaming media platform, Universal Music Group skillfully proposed a solution, which essentially broke through the deep-rooted royalty distribution model in the past decade. Last year, it cooperated with Deezer, a French music streaming service provider, and won twice the royalty income for artists who received more than 1,000 plays from more than 500 listeners every month, while avoiding the commercialization of white noise content. Deezer* initially only cooperated with artists of Universal Music Group to launch this’ artist-centered’ royalty distribution model, and now it has been applied to more than half of its music library. In January of this year, Spotify also adopted a similar payment scheme, setting a threshold for artists who reach 1000 plays per year to pay royalties. "

    Fast Company magazine not only selected 50 innovative companies in the world, but also published 606 company organizations spanning 58 industries and regions. The editors and authors of the magazine have deeply explored the companies that promote the progress of the industry in various fields around the world. The results of this selection have also become a global innovation guide, covering from start-ups to some valuable companies in the world.

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