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International Music Creators Seminar 2023 spurs collaborations, advocacy, and visionary discourse
Mumbai: The Indian Performing Rights Society (IPRS) hosted the International Music Creators Seminar on behalf of CISAC and the Asia Pacific Music Creators Alliance (APMA) on 5 December 2023. The APMA International Music Creators Seminar 2023 featured insightful panel discussions, each dedicated to exploring different facets of the music industry.
The first panel was about how artificial intelligence will revolutionise the music industry. Renowned artists and industry experts who attended the panel highlighted the positive potential AI tools have for creators, and the exciting AI revolution that is already happening cannot be stopped. Generative AI can extend the frontiers of human creation, enhance artistic expression, and deliver to creators new licensing opportunities and revenue streams. But AI also requires smart regulation. The industry needs to come together to prevent AI from undermining human creativity and threatening the livelihoods of creators.
In the discussion Dr. G.R. Raghavendra – Senior Consultant IPR, DPIIT, former Joint Secretary, Govt of India, Achille Forler Founder Silk Road Communications, João Kruss Gomes Chairman MACA, Mayur Puri – lyricist & screenwriter alongside moderator Benjamin NG, Regional Director for Asia Pacific, CISAC shed light on leveraging AI while ensuring regulatory frameworks uphold creators’ rights. “The integration of AI in music creation presents boundless opportunities for artists globally. It’s imperative to develop robust regulations to safeguard creators’ rights in this evolving landscape,” mentioned lyricist, IPRS Board Member and APMA vice chairman Mayur Puri.
Commenting on the same, Senior Consultant IPR, DPIIT, former Joint Secretary Govt. of India Dr. G.R. Raghavendra said, “In the vast landscape of AI, it’s important to dispel the notion that it’s inherently risky. Throughout the course of technological evolution, every leap forward has been met with the creation of rules and protections to ensure responsible usage. AI, such as ChatGPT, is essentially a machine that can’t replicate the depth of human abilities—it’s not that creative or original. When we talk about using someone’s work, whether in AI or any other field, seeking permission and offering fair compensation is not just a courtesy; it’s a fundamental aspect of ethical practice. In the grand scheme of technological advancements, maintaining fairness and ethical standards becomes the cornerstone of integrating AI responsibly into our lives. So, as we navigate this exciting era of innovation, let’s keep in mind the importance of consent, fair compensation, and ethical considerations in the realm of AI.”
The second panel, fair value of music in the streaming economy delved into the streaming landscape, emphasizing the need for creators to receive equitable returns from this burgeoning market. Discussions led by leading creators, legal experts, and industry veterans Dhinraj Shetty – MD Sony Music Publishing (India), Swanand Kirkire – lyricist, singer & Actor, Irfan Aulia – Musician, Managing Director, Massive Music, Chairman of the Supervisory Board of Collective Management Organization Wahana Musik Indonesia, Notapol Srichomkwan – songwriter and chairman MCT, Tarsame Mittal – Music Entrepreneur, moderated by Satoshi Watanabe of CISAC, highlighted the necessity for adaptations and government interventions to ensure a fair music ecosystem.
The third panel, the future of female representation & contribution in the Music Industry, featured discussions by lyricist and screenwriter Kausar Munir, music composer Sneha Khanwalkar, composer and music producer Merlyn D’Souza, music composer and producer Hiral Viradia, and Nanni Singh – chief executive showcase events, moderated by poet and lyricist Irshaad Kamil, on gender dynamics in the music industry. The panel passionately advocated for breaking down stereotypes, fostering inclusivity, and creating a diverse and inclusive musical landscape.
“The industry must actively foster an environment that embraces diversity and empowers female creators. It’s time to dismantle barriers and create more opportunities for women in music”, stated eminent lyricist and screenwriter Kausar Munir.
Javed Akhtar, legendary lyricist, screenwriter, poet, and chairman of IPRS, expressed his satisfaction with the event’s success, stating, “The International Music Creators Seminar 2023 underscores the power of collaborative innovation. The recently established collaboration with KOMCA ushers in a transformative period, encouraging a dynamic interchange of creation between India and Korea. Our commitment to creating an inclusive and equitable music industry where creator rights are safeguarded and creativity is nurtured was highlighted through stimulating panel discussions. Our narrative revolves around breaking down barriers, creating opportunities, and envisioning a world where creators and creativity flourish. We look forward to bringing such platforms to India and elevate our artists.”
The International Music Creators Seminar provided a platform to underscore the importance of cross-border partnerships and smart regulation for a vibrant and equitable creative landscape.
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Snapchat parent Snap cuts 16 per cent of workforce in AI-driven restructuring
The Snapchat parent is axing around 1,000 jobs and closing 300 open roles to save $500m, as artificial intelligence makes smaller teams the new normal
CALIFORNIA: Snap is snapping. The Snapchat parent has confirmed plans to cut around 1,000 employees, roughly 16 per cent of its full-time workforce, as it bets that artificial intelligence can do what headcount once required. Shares jumped more than 10 per cent in premarket trading on the news, a brisk vote of confidence from a market that has watched the stock shed about 31 per cent this year.
The restructuring, which also closes more than 300 open roles, follows pressure from activist investor Irenic Capital Management, which holds an economic interest of about 2.5 per cent in the company and has been loudly pushing Snap to tighten its portfolio and lift performance. The firm got what it asked for, and then some.
Chief executive Evan Spiegel told employees the cuts would reduce annualised expenses by more than $500m by the second half of the year. The company expects to incur charges of between $95m and $130m related to the layoffs, mostly severance, with the bulk landing in the second quarter. Staff in Snap’s North America team were asked to work from home on the day of the announcement.
The financial backdrop is not without bright spots. Snap expects first-quarter revenue to rise around 12 per cent to approximately $1.53 billion, broadly in line with analyst estimates. Adjusted core profit for the January to March quarter is forecast at about $233m, comfortably ahead of Wall Street’s expectation of $186.8m.
The harder question surrounds Specs, Snap’s augmented reality smart glasses subsidiary, which Irenic has urged the company to spin off or shut down entirely. The unit has absorbed more than $3.5 billion in investment and burns through approximately $500m in cash annually. Snap is pressing ahead regardless, with a consumer product expected later this year, even as Meta leads the market in the segment.
Spiegel is betting that leaner teams, smarter machines and a consumer AR play can restore Snap’s credibility with investors who have run out of patience. The redundancy notices have gone out. The harder restructuring, the one that requires a hit product rather than a headcount reduction, is still very much pending.
