The music industry is worth 26.2 billion USD. This was the global recorded music industry’s annual revenue in 2022.
In the past, the only real way to become a truly famous musician was to be signed by a label. Now, especially with the rise of social media, small musicians can build up their own presence in this large and powerful industry.
Gone are the days when fame was a distant dream for many, only realized by the lucky few who managed to secure a signature on a record label’s dotted line. The digital age has democratized fame, paving the way for musicians, both budding and established, to reach the masses. The convergence of the internet and social media platforms has shifted the paradigm, enabling even the most grassroots musicians to carve a niche in this colossal industry.
However, with innovation comes challenges. The vast digital audience is a double-edged sword, presenting both opportunities and obstacles for artists. The age-old concern of intermediaries, or “middlemen,” still lurks in the shadows of this new-age music revolution.
“With the advent of the internet, I know many creatives and musicians rejoiced at the idea of a larger global audience to interact with, and that has happened, but how the audience finds the music or creative content is still being controlled by certain platforms that insert themselves in between the artist and audience. To be blunt, the middleman is still there, even with this massive audience. We see a chance for a sea-change in this way of doing business, by employing new technology to help consumers find music in more creative ways, providing a direct marketplace for the people who make music and the people who license music for their own works or art or business,” states Incantio CEO Danny Newcomb.
The music industry is competitive and saturated. Now however, AI can help the smaller artist or band get a leg up in this industry and make it easier for them to spend more time creating music that we all love.
“I believe that we can provide a service to not only track metrics of listeners and licensors, but to put the artist just starting out right in the mix with all other independent artists on an equalized platform. Gatekeepers are tastemakers, and they have always been important to art and music, but with an unbiased AI recommendation service, new artists stand every chance of being recommended to a tastemaker as any other. I feel that a lot of competition in the music industry is created by bottlenecks that have existed for decades and simply cannot adapt to the volume of content and music that is constantly being created,” explains Incantio CEO Danny Newcomb.
In the vast landscape of music, differentiation is essential. But how does one stand out in a world bursting at the seams with talent? Enter AI. Artificial Intelligence offers the promise of unbiased evaluations, data-driven recommendations, and most importantly, an equal platform for all.
At its core, Incantio aims to illuminate. By tapping into the vast reservoirs of data and the capabilities of AI, it seeks to spotlight the hidden gems of the music industry, ensuring that no talent remains obscured in the shadows.
“At Incantio, we believe that the new capabilities of AI to sort and curate large amounts of data can be put to great use in this pursuit; illuminating what has been invisible and fostering direct connections.”
Danny Newcomb is the CEO of Incantio, a revolutionary, music-first platform that seeks to crack open the shadowy and dense world of sync licensing. They seek to bring real opportunities to everyone invested in the business of making music. Whether you make music yourself, or use it to support your work, Incantio is working with AI technology to expand and redefine the discovery of music for commercial creative.