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Techstars: How Artificial Intelligence Can Make The Music Industry Profitable

Techstars: How Artificial Intelligence Can Make The Music Industry Profitable

Tweet This AI will power the digital music value chain of the near-future, from production to search, to delivery and monetization.

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We all know that the growth of music distribution is moving fast from transaction to streaming subscriptions. The music value chain is adapting. With millions of songs streamed trillions of times, advanced technologies are necessary for consumers to find and discover their favorite songs and for music artists to find their fans and interact with them. Will the music industry be able to leverage digital technologies to adapt and be profitable?

We can get some serious tips from Techstars, an accelerator with a current portfolio of about 7.8 billion, which partners with major players including labels Warner Music Group and Sony Music Entertainment. On Thursday, Techstars featured its darling music startups at its first demo event dedicated solely to music, at the El Rey Theatre in Los Angeles.

The event was a microcosm of the digital transformation the music industry is going through. It included technologies to support both digital and physical music experiences. Out of the 11 tech startups featured at the event, two support live music events. One of them is Hurdl , which captures cell numbers of 60-80% of the people in a venue to communicate with them during and after the event, and uses LED wearables to turn people into lights. The second one is Robin , a personal tech concierge that helps reserve and secure tickets to live events while providing real-time demand data to event organizers.

The main feature of Techstars Music 2017 was how Artificial Intelligence (AI) is starting to power the digital music value chain to enhance creation and monetization. There just doesn’t seem to be any other way […]