How machine learning and AI algorithms are changing music ?
We all know about the wonders of AI and ML , and the disruption it has brought in the entertainment industry . Machine learning algorithms are changing the way we listen to music .
Youtube now knows which song to play next based on your playing history , Soundcloud and Spotify expose you to artists you have never heard before .
By analysing millions of songs and extracting features that are characteristics of each song and then storing it in a database’, each app is able to compare the characteristics of the song being listened to, and compare it to songs in its database until it finds a match. Machine learning and algorithms help us identify songs, and these same technologies are shaping the music we listen to in our spare time.
AI is playing a role in driving recommendation engines behind leading music streaming services like Spotify and Pandora. Interestingly, profitability at scale seems to be one of the main challenges for these companies. It will be interesting to see if AI could also contribute to addressing revenue challenges.
Music monetization is by far one of the trickiest aspects of this industry. Independent musical artists face major challenges producing, protecting and bringing their music to the marketplace. The lack of data on client outcomes makes it challenging to predict the impact of these platforms at this time.
Streamerium is one such emerging platform that appears on the horizon to tap into this captive market , by integrating AI — ML algorithms and assuring a minimal of 4 times the revenue to the artists.
