Universal Music Group NV, the world’s largest record label, expanded its global partnership with Amazon.com Inc’s premium music service to boost fan engagement and fraud protection.
The deal with Amazon Music is aimed at product enhancements and exclusive content, Universal Music said in a statement on Monday. The two companies “will also work collaboratively to address, among other things, unlawful AI-generated (artificial intelligence) content, as well as protecting against fraud and misattribution”.
Universal Music, which represents singers including Taylor Swift and Drake, has been trying to boost the business by adjusting deals with major streaming services and urging them to weed out fraudulent activity, such as AI-generated fakes or bots that divert royalties from their artists.
Last month, Universal Music filed a lawsuit against French record label Believe SA seeking damages of at least US$500 million over copyright infringement.
Universal Music shares were little changed as of 9.15am in Amsterdam, trading at €24.36 apiece. The stock is down 5.6% so far this year.
TikTok last month discontinued its music streaming service, ending a years-long experiment to compete with Amazon Music, Spotify Technology SA and Apple Inc. Earlier this year, Universal Music ended a standoff that saw performers including Drake and Rihanna pulled from Tiktok’s network.
- Bloomberg
Created by Tan KW | Dec 23, 2024
Created by Tan KW | Dec 23, 2024
Created by Tan KW | Dec 23, 2024
Created by Tan KW | Dec 23, 2024