ByteDance of China is venturing into music generated by artificial intelligence (AI), hiring the staff of a new London-based company after buying some of its intellectual property assets, according to LinkedIn publications and a person with knowledge of the matter
The measure could give one of the world's most valuable new companies more options for music used in its TikTok video streaming applications and its Chinese version Douyin. Many videos on the service use popular songs whose rights are controlled by large record companies.
The person with direct knowledge of the matter said that "several members" of the AI Jukedeck startup team had joined ByteDance after the company acquired some of Jukedeck's intellectual property assets.
At least five Jukedeck employees, including founder Ed Newton-Rex, have updated their LinkedIn profiles to say they started working at the ByteDance artificial intelligence lab in April.
ByteDance, Newton-Rex and Jukedeck – whose website has been disconnected – did not immediately respond to requests for comment on Wednesday.
TikTok, which allows users to create and share short videos, has been downloaded more than a billion times worldwide, according to Sensor Tower analysis firm, and its popularity has helped ByteDance to a potential assessment of around $ 75 billion.
His videos rely heavily on music, and users often establish comedy pranks and dance moves in a popular tone. s. Videos can be deleted if it is reported that the music infringes copyright.
Matthew Brennan, founder of the China Channel technology consulting firm, said that while TikTok and Douyin evolved to include video content of a longer format similar to that available on other platforms such as Alphabet Inc & # 39; s YouTube, music was critical to Your user experience.
"Over time, music for TikTok will be less important, but it is certainly very important today," he said.
Bloomberg reported in April that Universal Music, Sony Music and Warner Music has demanded more money for songs that play on TikTok and Douyin.
Jukedeck, whose software allows users to use AI to make music for royalty-free use in online videos, has raised at least 2 million pounds ($ 2.49 million) from investors such as Cambridge Innovation Capital (CIC), according to the CIC website.
Music industry consultant Music Ally, who was the first to report the change of Jukedeck staff to ByteDance, said the British firm. He was one of the world's leading experts in music generated by AI.