The Future of Music Publishing: Innovation and Technological Integration

The music publishing industry is on the brink of significant transformation, driven by technology and the increasing use of artificial intelligence (AI) in both creative processes and administrative tasks. From the way royalties are tracked and managed to predicting future hits, the role of technology in the music industry has never been more crucial.

AI and Big Data Management

My prediction is that in the future, music publishing will be dominated by a few specialist and innovative global tech-enabled music companies. These companies will hold both recording and publishing rights on a global scale and operate at the forefront of AI and big data management. By integrating AI into the creative process, these companies can predict hit songs, empower their artists, and manage royalties efficiently.

Instead of relying on an international network with many local publishers based on the current territorial model of performing rights organizations (PROs), these companies will use a single global database for registration and tracking of royalties. This streamlined approach will provide a more efficient and accurate way to manage royalties, ensuring artists and composers are fairly compensated for their work.

Technological Innovations: The Music Modernization Act and Blockchain

Technological advancements such as the Music Modernization Act and the MLC Music Licensing Collective represent a step in the right direction. However, both require building out new infrastructures to replace the existing patchworks of systems and processes. While blockchain technology offers a promising solution for simplifying the administrative processes of music publishing, it also poses challenges.

Blockchains provide a transparent and immutable ledger for tracking transactions, which can help ensure accurate and efficient management of royalties. However, they require significant infrastructure development to replace the existing complex network of PROs. Additionally, errors in algorithms and machine learning can result in incorrect metadata being assigned to artists and catalogues, necessitating manual editing. This task can be daunting and may require considerable resources.

Years ago, Jaron Lanier suggested a system where digital media has master files serving as the primary source for copyright verification and performance royalties. While this concept has merit, setting up and maintaining such a system in perpetuity presents significant challenges. Non-Fungible Tokens (NFTs) could potentially function in a similar way, but they also have similar challenges related to scalability and maintenance.

Publishing Administration and Challenges

Despite the advancements and innovations, the fundamentals of publishing administration remain. While technology has helped streamline these processes, it hasn’t resolved all the underlying issues. The ever-expanding number of venues and new players entering the space continues to pose challenges for artists and publishers.

Licensing, copyright, and regulation are constantly evolving. The territory and pricing schedules are becoming more complex, requiring constant adaptation and compliance. This creates an environment where there is room for a new generation of specialists who can keep up with the trends and address these evolving challenges.

The volume of music being produced and distributed through increasing channels means that royalties will shrink. This necessitates a more strategic approach to licensing and a deeper understanding of copyright law. Curation becomes a critical aspect, as artists and publishers must navigate the vast ocean of content to find and promote hits.

In conclusion, while the future of music publishing holds immense potential for technological innovation, it also presents significant challenges. Success in this evolving landscape requires not only advanced technology but also a deep understanding of the industry, its practices, and the ongoing regulatory environment. As we move forward, the integration of technology with human creativity and expertise will be key to navigating the changes ahead.