Spotify is targeting an early 2027 launch for a new AI-powered service that will let listeners create their own remixes and covers of songs, as it negotiates licensing deals and tries to persuade artists to embrace the technology. The streaming group is aiming to launch the product in the first quarter of next year, with a potential unveiling around the Grammy Awards in February, according to people familiar with the plans. Spotify is considering charging subscribers an additional $4 to $5 a month for the service.
The product would allow Spotify's paying subscribers to use AI to create their own versions of popular songs, such as transforming a folk song into a dance track or making one artist appear to cover another's music. The timing and pricing have not been finalised and remain subject to change, the people cautioned. Spotify is still negotiating licensing agreements that would allow it to implement the feature with Sony Music and Warner Music.
The company has already struck deals with Universal Music Group, the independent label licensing group Merlin and French music company Believe. The launch is a significant test of whether the music industry can turn generative AI into a new source of revenue, even as the technology has provoked resistance from some artists.
Source: Financial Times Companies · Summarized by HeadlinesBriefing