AI Could Cost Music Industry and Visual Artiss 25% of Their Income

A recent global study has revealed that by 2028, music industry workers could lose up to 25% of their income due to the rise of artificial intelligence (AI). Conducted by the International Confederation of Societies of Authors and Composers (CISAC), the study highlights a significant economic shift, with revenues from generative AI services in music and audiovisual sectors projected to soar from approximately $3.18 billion to $67.68 billion in just four years.

The Economic Impact of AI on the Music Industry

According to the study, music creators are expected to experience a 24% decrease in income by 2028, while the audiovisual sector will see a 21% decline. This amounts to a staggering $23.32 billion loss—$10.6 billion in music and $12.72 billion in audiovisuals. The rapid expansion of AI services, however, will likely exacerbate this gap, benefiting AI-driven platforms rather than human creators.

The Role of AI in Music Creation

While AI has the potential to unlock new creative opportunities for artists, CISAC President Björn Ulvaeus cautioned that poorly regulated AI could severely impact the livelihoods of creators. The shift to AI-generated music could limit revenue for songwriters, composers, and other industry professionals, as AI tools become increasingly capable of producing music with minimal human input.

“For creators of all kinds, from songwriters to film directors, screenwriters to film composers, AI has the power to unlock new and exciting opportunities – but we have to accept that, if badly regulated, generative AI also has the power to cause great damage to human creators, to their careers and livelihoods. Which of these two scenarios will be the outcome? This will be determined in large part by the choices made policy makers, in legislative reviews that are going on across the world right now. It’s critical that we get these regulations right, protect creators’ rights and help develop an AI environment that safeguards human creativity and culture.”

CISAC President Björn Ulvaeus

Looking Ahead of the music and AI curve

As the music industry faces this challenge, the study stresses the importance of proper regulation to protect creators’ careers and income. The rapid growth of AI in both the music and audiovisual sectors may bring innovation, but it also raises significant concerns about the future of human-driven artistry.

You can learn more about this study on the CISAC website here.

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