Universal Music Group and ElevenLabs have agreed to a licensing deal under which the artificial intelligence (AI) audio startup will build an AI-powered music platform using UMG’s artist catalog. The platform is designed to let fans remix and mash up tracks, create new interpretations and access personalized vocal experiences.
Platform features#
The companies said the platform will allow users to:
- Remix and mash up artist tracks
- Create “new track interpretations”
- Access “personalized vocal experiences”
The platform is one of several AI audio products the two companies plan to develop together.
In a statement, Sir Lucian Grainge, UMG’s chairman and CEO, said:
“The most exciting possibilities for AI and music are those that put artists, songwriters, and fans at the center. UMG and ElevenLabs are aligned that responsible AI can inspire discovery, deepen engagement between artists and fans, and unlock new revenue opportunities for the creative community. ElevenLabs’ leadership in AI audio brings a new dimension to our growing ecosystem of partners committed to expanding what’s creatively and commercially possible for human artistry.”
Mati Staniszewski, co-founder and CEO of ElevenLabs, added:
“AI opens up incredible possibilities for interacting with our favorite music and artists. By combining UMG’s global community and rights management expertise, with our AI models and products, we’ll enable artists and songwriters to create powerful new experiences for their fans, and ensure they are fairly compensated.”
Competitive landscape#
The announcement came one day after Suno launched its first label-powered models backed by Warner Music Group, Believe and BMG.
The ElevenLabs agreement differs from UMG’s other deals with AI music startups, including the remixing tool Hook and the AI music generator Udio, because it involves building an entirely new platform. UMG and Sony Music Entertainment are still in litigation with Suno over alleged copyright infringement.
ElevenLabs funding and music projects#
ElevenLabs raised $500 million in a Series D funding round earlier this year at an $11 billion valuation. That came five months after the company, which launched in 2022, offered employees a $100 million tender offer at a $6.6 billion valuation.
The company, known for licensing voices and intellectual property such as Hasbro‘s suite of characters, has also moved into music. It released the first volume of The Eleven Album, a collection of original songs co-created with singers including Liza Minelli and Art Garfunkel and some AI-generated music artists, alongside an AI model to produce “studio-quality compositions.” A second volume was released in April.
