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Business News Deals Digital Labels & Publishers
AI-powered MatchTune announces partnership with BMG
By Chris Cooke | Published on Monday 18 May 2020
MatchTune, an AI-powered platform that aims to make it easier to source music for video, and to then edit and synchronise that music into the video itself, has announced a partnership with BMG’s production music division. The deal will see more than 15,000 tracks from BMG’s production music libraries made available via the MatchTune platform.
Announcing the deal, MatchTune CEO Philippe Guillaud said: “MatchTune is delighted to be able to work with BMG Production Music and demonstrate how we can help existing music catalogues and artists find a broader audience by removing the lengthy integration work required in matching music and video content, as well as finding the right tracks. Operating at the intersection of music and technology, we are showing how AI can add value to both copyright owners and to music users”.
Meanwhile the Global MD for BMGPM, John Clifford, added: “As BMGPM continues to strengthen its offering, it is imperative to recognise innovations in technology and diversification of revenue streams. Partnering with MatchTune, we are continuing to champion our hidden hit makers while meaningfully connecting the BMGPM catalogue with a wider audience”.
New AI technologies provide both opportunities and challenges for the production music business, ie those companies that provide libraries of music for video makers to use in their videos as a simpler and cheaper alternative to commissioning something unique or licensing a commercially released track.
By helping with the process of sourcing production music and – especially – by editing the track for synchronisation, AI makes the whole process much simpler. And with more people and companies than ever making videos, simpler processes for adding music allows libraries to capitalise on that newer and expanding market.
However, other AI technologies are actually creating original music to go into videos, which is ultimately a threat to the production music business. Once machines can create something both original and cheap for video makers, utilising traditional production music libraries will become less attractive.
It’s still relatively early days for the latter AI tech, though, meaning for the time being there are still plenty of opportunities to utilise new technologies to grow the traditional production music business, which is what BMG will be hoping it can do with MatchTune.
