A global study by CISAC indicates that generative AI will significantly impact the music and audiovisual industries, potentially enriching tech companies while threatening human creators' revenues.
The study, conducted by PMP Strategy, forecasts that creators may lose around 24% and 21% of their incomes in music and audiovisual sectors, respectively, by 2028, totaling a loss of €22 billion over five years.
Currently valued at €3 billion, the market for AI-generated content in these sectors is expected to soar to €64 billion by 2028. Generative AI providers could see revenues rise to €4 billion in music and €5 billion in audiovisuals, largely from unauthorized use of creators' works.
CISAC Vice President Ángeles González-Sinde Reig emphasized the need for ethical policies to protect creators' rights amid the rapid monetization of AI. She noted that while AI can enhance creativity, it poses risks if creators are sidelined.
The study highlights that if regulations remain unchanged, creators will face dual losses: unauthorized use of their works and competition from AI-generated products, which could undermine traditional income sources.
Björn Ulvaeus, CISAC President, warned that without proper regulation, generative AI could severely damage human creators' careers and livelihoods. He stressed the importance of legislative decisions currently being made worldwide to protect creators' rights and ensure transparency in AI services.
This report is the first of its kind to assess the economic impact of generative AI on music and audiovisual creators globally, combining qualitative and quantitative analysis to highlight the urgent need for protective measures.