Universal Music Group and ElevenLabs are getting into business.
The label has struck an expansive licensing agreement with the AI audio startup that will see ElevenLabs launch an AI-powered music platform built on UMG’s catalog of artists. The platform will allow fans to remix and mashup artist tracks along with creating “new track interpretations” and “personalized vocal experiences,” according to the companies. The platform is in addition to other AI audio products the two plan to create.
“The most exciting possibilities for AI and music are those that put artists, songwriters, and fans at the center,” Sir Lucian Grainge, UMG’s Chairman & CEO, said in a statement. “UMG and ElevenLabs are aligned that responsible AI can inspire discovery, deepen engagement between artists and fans, and unlock new revenue opportunities for the creative community. ElevenLabs’ leadership in AI audio brings a new dimension to our growing ecosystem of partners committed to expanding what’s creatively and commercially possible for human artistry.”
“AI opens up incredible possibilities for interacting with our favorite music and artists,” ElevenLabs co-founder and CEO Mati Staniszewski added. “By combining UMG’s global community and rights management expertise, with our AI models and products, we’ll enable artists and songwriters to create powerful new experiences for their fans, and ensure they are fairly compensated.”
