Stephanie Reid is a super-smart music licensing executive who has a really interesting take on the Artificial Intelligence kerfuffle, as it relates to the music industry.
Are you trepidatious? Have you lost sleep because you’ve spent years building your sync career, and now it looks like Robbie the Robot is going to force you into busking on street corners in the not-too-distant future?
Now that you’ve listened to all the other prognosticators shouting, “The sky is falling!” you should hear what my incredibly well-informed, and well-reasoned friend Steph has to say. Try and poke holes in her logic and see how that goes.
And while you’re at it, listen to how she thinks the blockchain could dramatically improve the music publishing industry!
Put your thinking caps on gang! This episode is chock-full of great information, and I’m curious to see how you feel after watching it!
⏱️⏱️VIDEO CHAPTERS⏱️⏱️
1:02 - TAXI CEO, Michael Laskow, welcomes the chat room and introduces his guest, Music Licensing Executive, Stephanie Reid.
1:53 - AI is not capable of replacing you, it is a tool you can use to your advantage.
2:08 - Should people be afraid that AI will steal their music or jobs?
4:31 - Music is a language we use to communicate with each other.
9:08 - What about AI and Instrumental music?
12:36 - AI becomes an extension of you, your input, and what you are looking for.
13:47 - Using AI as a creative assistant helps with repetitive tasks, use it to help you, and don't be afraid!
16:06 - You cannot copyright something that is not created by a human being.
17:06 - What are Stephanie's thoughts on AI and copyright issues?
19:41 - Stephanie explains Direct Licensing and how it works.
25:06 - Additional thoughts Stephanie has on AI from the musician's perspective or any suggestions for musicians.
29:37 - AI can do certain things faster and it could be helpful with Mastering.
32:37 - What are Stephanie's thoughts on AI and metadata?
39:57 - Stephanie talks about restructuring the metadata with the company she works with, and shares what can change, and what can't.
42:34 - Use technology and AI as tools instead of seeing them as a threat.
46:02 - Stephanie explains blockchain and why she feels it will benefit the music business. She also explains the ledger system and the benefits of blockchain.
54:22 - How would blockchain benefit performance royalties in the music industry rather than collect royalties the traditional way PROs are doing it now?
1:02:20 - Stephanie talks about how she started understanding blockchain.
1:05:33 - Michael explains how PROs calculate what musicians get for performance royalties.
1:08:33 - Stephanie explains how AI and Blockchain can help with getting musicians paid by their PROs for every use.
1:14:55 - How would AI and Blockchain benefit the PROs?
1:18:57 - Michael explains what a Financial Float is.
1:23:08 - Stephanie explains the Float further.
1:24:37 - What does a PRO get for collecting your money?
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