Summary:
• Warner Music Group’s Chief Digital Officer Oana Ruxandra discussed how artificial intelligence and digital space could shape the future of the music industry.
• WMG has been investing in platforms like The Sandbox, Splinterlands, Roblox, and hosted a virtual Super Bowl experience featuring American rapper Saweetie.
• Ruxandra said that brands should create Web3 activations with fresh ideas to succeed.
Warner Music Group Plans for the Future of Music
The digitally augmented space is a key part of Warner Music Group’s (WMG) future plans, Chief Digital Officer Oana Ruxandra said at Consensus 2023. A music track claiming to use an AI version of Drake’s voice recently went viral, prompting discussion on how artificial intelligence could shape the future of the music industry.
WMG’s Investments
To stay ahead of the game, WMG has been investing in various platforms such as metaverse platform The Sandbox and blockchain gaming platform Splinterlands. It also invested in gaming platform Roblox in 2021 and hosted a virtual Super Bowl experience with American rapper Saweetie that garnered 7.5 million views and achieved a 91% “like” ratio from viewers.
Fresh Ideas are Key
Ruxandra believes that digital collectibles are key to moving artists forward; however brands shouldn’t create Web3 activations just for bragging rights – they must come up with creative ideas to succeed. She encouraged brands and companies to focus on creating experiences that people can enjoy instead of relying solely on numbers and metrics for success.
Experimenting with New Technologies
The entertainment company continues experimenting with new technologies such as NFTs (non-fungible tokens). Even though there was an extended crypto winter, this didn’t stop them from diving into this technology further to provide more value added services for their customers.
Conclusion
In order to remain competitive in the ever-changing landscape of entertainment, WMG is making sure it remains up-to-date with new technologies while focusing on creating experiences that bring value to its customers instead of just chasing after metrics or numbers.