82% of musicians are worried about their careers on AI impact, study reveals

4,200 musicians were interviewed.

Photo Credit: Igor Omilaev on Unsplash

A recent study by APRA AMCOS reveals significant concerns about AI’s impact on the music industry in Australia and New Zealand. The survey of 4,200 musicians highlights potential threats to music creation and artists’ livelihoods posed by AI technology.

The study paints a worrying picture: 82% of artists are concerned about AI’s impact on their careers and finances. Projections suggest that by 2028, generative AI could threaten up to 23% of artists’ revenues, potentially leading to a cumulative loss exceeding AU$500 million.

Prof. Dr. Klaus Goldhammer, CEO of Goldmedia GmbH research group, who led the study, emphasizes its significance, “This report examines the economic dimension and trends in this fast-growing market, as well as the attitudes of music creators.” He further notes that Australia and New Zealand are not merely reacting to AI-driven changes but are actively setting benchmarks for the global music industry.

Despite concerns, the study reveals mixed artist perspectives on AI. While 38% use AI in creation and 54% see its potential in production, most still view AI’s risks as outweighing its benefits, with over two-thirds expressing this opinion.

The study also highlights a pressing need for regulatory attention. A majority of artists agree that policymakers should address the challenges and copyright issues stemming from AI’s integration into music creation.

As the music world grapples with these technological advancements, the APRA AMCOS study serves as a reference point, offering valuable insights into the complex relationship between AI and artistic creation.

The full report is available on the APRA AMCOS website.