Sean Parker, co-founder of Napster, has re-entered the music sector, noting that he intends to follow industry regulations this time. He admits to The Information that the previous strategy of seeking forgiveness rather than permission was unsuccessful.
Two years after participating in an $80 million rescue of Stability AI, the image-generation startup that nearly failed due to overspending and internal conflict following the departure of founder Emad Mostaque, Parker and longtime friend Prem Akkaraju, now the CEO, are launching their new initiatives.
Parker states the primary objective is to establish Stability AI as the premier tool for music professionals. To achieve this, the company secured $76 million in funding in late August from major labels like Sony, Warner, and Universal, which also permitted the use of their catalogs for training. Stability AI has since unveiled three new audio models and music editing software. The system can generate full instrumental tracks or short segments based on text prompts. Parker mentions that a future update will allow users to influence the generation by humming a melody or drumming a beat.
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