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AI Can Help the Music Industry With Finances, Fans, More: Guest Column

rmtsa by rmtsa
October 21, 2024
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AI Can Help the Music Industry With Finances, Fans, More: Guest Column
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The newest upsurge in artificial intelligence technology is streamlining the tedious tasks that run beneath the glamor of the industry, from simplifying marketing strategies to easing direct fan engagement to handling financial intricacies. And as this ecosystem matures, companies are discovering unprecedented methods to not only navigate but thrive within these new paradigms. 

In our previous guest column, we explored how the wave of music tech startups is empowering musicians, artists and the creative process. Now, we shift our focus to the technologies revolutionizing the business side of the industry, including artist services, ticketing, fan engagement and more. 

Music marketing has continued to evolve and become increasingly data-driven. A natural next step after creation and distribution, marketing involves creating assets for a campaign to effectively engage with the right audience. Traditionally, this has been a resource-intensive task, but now, AI-driven startups are providing efficiencies by automating much of this process.  

Startups like Symphony and un:hurd are now providing automated campaign management services, handling everything from social media ads to DSP and playlist pitching from a single automated hub. Some of these platforms even incorporate financial management tools into their offerings.  

“Having financial management tools integrated into one platform allows for better revenue management and planning,” says Rameen Satar, founder/CEO of the financial management platform BANDS. “Overall, a unified platform simplifies the complexities of managing a music career, empowering musicians to focus more on their creative work and succeed in the industry.”

One hot topic as of late has been superfan monetization, with multiple startups creating platforms for artists to engage with and monetize their fan bases directly. From fan-designed merchandise on Softside to artist-to-fan streaming platform Vault.fm, which recently partnered with James Blake, these platforms provide personalized fan experiences including exclusive content, NFTs, merchandise, early access to tickets and bespoke offerings.  

Drew Thurlow and Rufy Anam Ghazi

Drew Thurlow and Rufy Anam Ghazi

Courtesy Photo

“The future of fan engagement will be community-driven. No two fan communities are alike, so engagement will be bespoke to each artist,” says Andy Apple, co-founder/CEO of superfan platform Mellomanic. “Artists will each have their own unique culture, but share one commonality: Every community will align, organize and innovate to support the goals of the artist.” 

Managing metadata and accounting royalties through the global web of streaming services is another area seeing innovation. With nearly 220 million tracks now registered at DSPs, according to content ID company Audible Magic, startups are stepping in to offer solutions across the music distribution and monetization chain. New tools are being developed to organize and search catalogs, manage track credits and splits, handle incomes, find unclaimed royalties, and clean up metadata errors.  

”While we have well-publicized challenges still around artist remuneration, there are innovation opportunities across the value chain, driving growth through improved operations and new models,” says Gareth Deakin of Sonorous Global Consulting, a London-based consultancy that works with labels and music creators to best use emerging technologies. 

Another issue that some AI companies have stepped in help solve is preventing fraud — a significant concern stemming from the ease of music distribution and the sheer volume of new music being released every day. Startups are helping labels and digital service providers address this problem with anti-piracy, content detection and audio fingerprinting technology. Beatdapp, for instance, which developed groundbreaking AI technology to detect fake streams, has partnered with Universal Music Group, SoundExchange and Napster. Elsewhere, MatchTune has patented an algorithm that detects AI-generated and manipulated audio, and a few others are developing tech to ensure the ethical use of copyrighted material by connecting rights holders and AI developers for fair compensation. Music recognition technology (MRT), which also utilizes audio fingerprinting technology, is becoming a prominent way to identify, track and monetize music plays across various platforms, including on-ground venues and other commercial spaces. 

In the live music industry, there has been minimal innovation in ticketing, especially at the club level. That’s starting to turn around, however, as new technologies are emerging to automate the tracking of ticket sales and counts, thereby helping agents and promoters reduce manual workloads.  

RealCount is one such startup that helps artists, agencies and promoters make sense of ticketing data. “We see RealCount as a second brain for promoters, agents and venues, automating the tracking of ticket counts and sales data from any point of sale,” says Diane Gremore, the company’s founder/CEO. Other exciting developments are taking place in how live events are experienced virtually, with platforms like Condense delivering immersive 3D content in real time. 

Drew Thurlow is the founder of Opening Ceremony Media where he advises music and music tech companies. Previously he was senior vp of A&R at Sony Music, and director of artists partnerships & industry relations at Pandora. His first book, about music & AI, will be released by Routledge in early 2026.

Rufy Anam Ghazi is a seasoned music business professional with over eight years of experience in product development, data analysis, research, business strategy, and partnerships. Known for her data-driven decision-making and innovative approach, she has successfully led product development, market analysis, and strategic growth initiatives, fostering strong industry relationships.



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