Billboard’s Deals Column this week covered SourceAudio’s launch and announcement of their new AI Dataset Licensing marketplace and generation of $1.35 million in new annual recurring revenue for artists and publishers who have opted in.
Music synch platform SourceAudio launched the first comprehensive AI dataset licensing marketplace through which it will offer 14 million fully cleared tracks to AI companies via an opt-in model. The tracks come from major publishers, indie artists and production music libraries, providing AI companies with training datasets while offering compensation to writers and publishers. So far, the company has partnered with several AI companies, including Wondera.ai, generating more than $1.35 million in new annual recurring revenue for artists and publishers who opted in, according to a press release. Revenue from dataset licensing is paid out to rights holders up front or throughout the term of each license agreement. Rightsholders already on SourceAudio can contact their rep at the company to explore dataset licensing for themselves. Those not on SourceAudio can opt in by contacting the company here.
– Chris Eggersten, Billboard