YouTube Forges AI Music Alliance
<p>The music industry is no stranger to disruption.</p>
<p>In the late '90s/early 2000s, the Napster movement was a significant threat to the music industry, and record companies scrambled to adapt and find new ways to monetize music in the Internet age.</p>
<p>The MP3 file format made it possible for anyone to download music without having to buy any records or CDs. So sharing MP3s was becoming a cultural norm at the time.</p>
<p>But it took the genius of Steve Jobs to broker a deal between Apple and the major record labels.</p>
<p>Jobs convinced 5 major record companies that it was better to embrace his iTunes model of single MP3 purchases, and capture some revenue rather than lose out to rampant illegal downloading.</p>
<p>The agreement included revenue-sharing agreements ensuring that artists and copyright holders received a fair share of the proceeds from each sale.</p>
<p>It was a success, as the record companies had regained control over distribution and profits, while Apple took a cut as the digital retailer.</p>
<blockquote>
<p>“This will go down as a turning point for the music industry.”<br />
- Steve Jobs</p>
</blockquote>
<h2>The New AI Napster Moment</h2>
<p>We are now about to witness a new disruption in the music industry, which involves the use of generative AI.</p>
<p><a href="https://medium.com/the-generator/youtube-forges-ai-music-alliance-f41a792facc8">Read More</a></p>