Justin Bieber just sold his entire music catalog. Here’s why companies are eager to strike these massive deals – CNN

New York

Music superstars are cashing in on a red-hot market.

Justin Bieber on Tuesday joined a growing list of iconic singers who have struck mammoth deals to sell their music catalogs — or, in some cases, their masters — for hundreds of millions of dollars.

The song management company Hipgnosis said that it had acquired the rights to Bieber’s entire music catalog in an acquisition that “ranks among the biggest deals ever made for an artist under 70.” While the terms were not disclosed, Billboard reported that the price tag was a hulking $200 million.

The news comes amid a broader trend — one that has been on the rise since Merck Mercuriadis founded Hipgnosis in 2018 and started buying up rights to legendary tracks. “What I wanted to do on behalf of the entire songwriter community is to really establish music as an asset class and create a market,” Mercuriadis said on Tuesday, equating the value of hit songs to gold or oil. “I wanted to demonstrate to the financial community that these great proven songs have very predictable, reliable income and therefore they are investable.”

Mercuriadis has certainly helped lead the way in doing that. In the last few years, generational stars have inked nine-figure deals to hand over the rights to their catalogs. Bruce Springsteen sold his masters and publishing rights for a reported $500 million. Bob Dylan sold his catalog for a reported $300 million. And, younger artists have taken part in the action too, with singers such as John Legend and Iggy Azalea striking deals.

A version of this article first appeared in the “Reliable Sources” newsletter. Sign up for the daily digest chronicling the evolving media landscape here.

So why are these deals taking place in the last few years? For a few reasons.

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Google AI Tool Creates Music from Written Descriptions – VOA Learning English

This week, Google researchers published a paper describing results from an artificial intelligence (AI) tool built to create music.

The tool, called MusicLM, is not the first AI music tool to launch. But the examples Google provides demonstrate musical creative ability based on a limited set of descriptive words.

AI shows how complex computer systems have been trained to behave in human-like ways.

Tools like ChatGPT can quickly produce, or generate, written documents that compare well with the work by humans. ChatGPT and similar systems require powerful computers to operate complex machine-learning models. The San Francisco-based company OpenAI launched ChatGPT late…….


Bringing music to the masses… on a tram – BBC

French pianists, Hervé Billaut and Guillaume Coppola, brought a piano on to a tram in Nantes, as part of the opening of the annual La Folle Journée classical music festival.

They played to passengers all afternoon on Wednesday.

Mr Billaut said that they wanted to bring music to places you don’t expect it: “Perhaps someone, a child, a young person or a pensioner will have a musical shock.”