Kyncl shared that he just visited his old employer YouTube for a few hours and discussed pricing and related topics. Asked why music streamers hadn’t raised their prices until recently, he argued that it was “the right thing to do” over the past 15 years.
After a decline in the music industry, Spotify CEO Daniel Ek “came up with a great idea, pushed it through, made it happen.” As a result, Spotify and various other companies “all ended up doing a similar thing, and jointly, we built an incredible growth engine for the industry.” Everyone has been “hunting for users,” getting “600 or 700 million people into a premium experience,” Kyncl said.
Asked about artificial intelligence on Wednesday, Kyncl compared it to user-generated content , saying: “I see AI as UGC with super-tools.” What does that mean for WMG’s strategy? “My focus is first and foremost on the large consumption platforms to make sure that they have practices in place that help us protect the artists’ choice and have the right attribution and the right monetization framework – exactly what we do with UGC, just more advanced and faster. But the playbook is very similar.
Asked about his long-term vision for WMG, the CEO argued that every person around the world is consuming music and that “music is now incredibly aligned with the internet,” which creates future opportunities. His background in digital businesses and his focus on win-win solutions was appealing to the company’s board, he signaled. And he emphasized his “collaborative” approach to doing business.
Source: Entertainment Trends (entertainmenttrends.net)
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