ElevenLabs’s $11B Valuation Is More than Twice the Size of Suno’s. It Just Struck a Global AI Music Deal with UMG.
The licensing deal will let fans remix tracks and create personalized vocal experiences while UMG says artists and songwriters will be fairly compensated.
- On Thursday, Universal Music Group announced a multi-year licensing agreement with ElevenLabs to develop an AI-powered music platform enabling fans to create remixes, mashups, and new interpretations of licensed tracks from participating artists.
- This partnership reflects UMG's strategic shift from legal disputes toward AI collaboration, following recent investments in Stability AI. ElevenLabs, valued at $11 billion, brings audio technology expertise to unlock new revenue opportunities for the label's creative community.
- The platform will offer "new track interpretations" and "personalized vocal experiences" for fans, according to the companies. It remains separate from ElevenLabs' existing Music API and ElevenMusic products, allowing artists to opt-in to participation.
- Competition intensified this week as rival Suno launched models backed by Warner Music Group, BMG, and Believe. Nashville artist MORGXN criticized the trend, alleging "this is end times for the music industry and nowhere in this is choice given."
- ElevenLabs plans to co-develop additional products with UMG in the coming years as the companies aim to ensure artists are "fairly compensated" amid generative AI's impact on music consumption. The deal positions both firms as partners rather than adversaries in reshaping the industry.
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ElevenLabs signs its first major-label deal, licensing Universal music for a fan remix platform
Universal Music Group and ElevenLabs have signed a multi-year licensing agreement and will build a music creation platform on it that lets fans produce remixes, mashups, new interpretations and personalised vocal experiences using tracks from artists who choose to take part. It is ElevenLabs’ first deal with a major label, covers product development as well […] This story continues at The Next Web
Universal Music is launching an AI music platform with ElevenLabs
Universal Music Group is launching a new AI-powered platform that will allow users to draw from its catalog of licensed music to create song remixes, mashups, and new takes on tracks, according to an announcement on Thursday. The record label is developing the platform through a multiyear licensing agreement with ElevenLabs, a company that specializes […]
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