Spotify targets 2027 launch for AI remix service, FT reports

Oct 30 (Reuters) - Spotify ‌aims to ​launch ​an AI-powered music remix service in the first quarter of 2027, targeting ‌a potential unveiling around the Grammy Awards in ⁠February, the Financial Times reported on Friday, citing ‌people familiar with the plans.

The ‌Swedish audio-streaming giant is considering charging subscribers an additional $4 to $5 a month for the ​service, according to the FT report.Spotify did not immediately respond to a Reuters request ⁠for comment.

Here are a few more details:

• The service would let ​paying subscribers use AI to create their own versions of songs, such as ​transforming a folk song into ‌a dance track or making one artist appear to cover another's music, the ⁠FT report said

• Under Spotify's plan, royalties from fan-created remixes would flow back to original artists, ⁠and plays would count towards the original songs in Spotify's ​charts, the newspaper said

• Spotify has struck licensing deals with Universal Music Group, independent label group Merlin and ‌French music company Believe for the remix feature, the FT said

• The ‌company is still negotiating with Sony Music ⁠and Warner Music to ‌implement the feature, ​according to the FT report

(Reporting by Chandni Shah in Bengaluru; Editing by Jochelle ‌Mendonca)

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