AI, new tech are opportunities more than threats, say music investors

SUPPLYING background music in virtual reality worlds; building software so that musicians can create songs on their phones; helping creators monetise their work on social media – these are just a few of the opportunities technology is bringing to investors in the music industry.

Such opportunities outweigh the threats posed by artificial intelligence (AI) and the growing clout of social media platforms, industry players said.

Consider the mobile music app BandLab, which announced on Mar 22 that its user base has crossed the 100 million mark. This critical mass, impossible without tech, could pave its way to profitability.