YouSaid · the spoken record

Golnar Khosrowshahi

lines on the record: 82
first: 2023-10-31
most recent: 2023-10-31
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“Well, it came from Will Page's summary, a white paper that he had written. And, you know, you have this world where all of these barriers are down and people have access to all different kinds of music. And so you have local music that's actually having a global impact. And so that's been really interesting to watch because we do have a business in the Middle East. Then we represent a lot of artists out there. And there's going to be a lot of momentum in what's happening on that side of things. And we're interested in watching that. We're very focused on how culture moves, how culture moves from east to west and west to east. And that's something that I'd like to see shift and change.”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“I think that we're in a time of what's going to be a lot of creativity. I think we're in a time where a lot of people are focused on this globalization concept and a complete breakdown in barriers and just”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“worry about their skill set being rendered obsolete. Much at the same time they are seeing efficiencies created in the studio with things that they can do and things that they can source and how engineering processes are accelerated and things like that. So there's a lot of B2B. The focus is on this uncertainty around the machines are going to take over our lives. This is just not what I think is going to happen.”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“Well suited to passing a complicated AI regulation. Yes, but at least that process has begun and there will be attention on that. I don't know if I have to believe this because of the business I'm in, but I really don't believe that we are operating in a business where the creative work and the artists and those creators are, the value is just going to be rendered zero. I don't. So I'm going to have faith in the system and the people and an appreciation for art.”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“So right now we have Two forms of protection. One form is that one of the reasons that the DSPs actually took that particular track down was that it was a violation of their agreement between universal and the DSPs. There was a veto of contract there. The other is that there's a lot of attention around and disapproval just around this ability to create something that sounds exactly like something else. Now that's neither here nor there. What happened last week is the presentation, I think it was last week or two weeks ago, was the presentation of the no fakes act, which actually is an acronym that stands for name and likeness and, you know, all of that. Congress. Yes. And that's being led by Schumer, I believe. And that's really what's in play right now, obviously. It's not tomorrow, next week, this year thing, even.”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“Other thing that I'm constantly thinking about in the context of AI is We don't have a great system for fake Drake. There is no federal likeness law. There's no right of publicity law that would cover it”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“So, microlicensing, really think of it as outside of the big ticket sink that we do. Outside of the trailer placements, the film placements, the big commercials, et cetera. We do a lot of microlicensing. High volume, low cost music licensing. The way I think about how we could do that is that we have technology that actually understands all the characteristics and attributes of our music that we license for that use. So understands that metadata, classifies that metadata, and is searchable. And even though it's searchable now, I think it can be a lot more efficient as far as being used to then search, create a license, obtain that license, and you've now completely automated a process that is still carried out by humans right now.”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“So that diversification across gaming and other social media platforms has been beneficial for us. It's always been accretive. We're always seeing this push and pull in our consumption and across these platforms. So we have to supplement with other value add vehicles and channels to continue to build that value.”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“Pay licensing fees for them. And I mean, Peloton specifically, TikTok specifically, these are also discovery channels. So now people are discovering our music that way because they heard it in a Peloton class because they are down some TikTok rabbit hole and are seeing a video of something.”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“So we don't have those specific deals. We're a much smaller company, and so we don't. We don't have those specific deals. So I do worry about what you're saying because you have a finite number of listening hours and you have a growing content pool. And at some point you have these really what are standards getting in front of fewer and fewer and fewer people and ears. I think that one of the ways we look at the industry is that the diversification across platforms has actually been accretive on a net basis. You have Peloton, you have all of these new platforms that have actually supplemented consumption across the other platform.”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“Okay, you have a catalog again of older artists. Do you worry? Okay. At some point, the numbers song by song. Some of these songs are not going to get enough stream skip payouts. We need to negotiate with Spotify for deals to get the whole catalog up. How does that work?”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“But the off ramp isn't the legal system. And here's the history on that. We go to dispute royalty rates every five years. We go through this proceeding with the Department of Justice. We've now concluded CRB4. We're going to continue. So the legal system is decided on a royalty rate and how that royalty rate is going to change within a five-year period. And when that five-year period is done, we're going to go back to the table and demand for greater compensation for the royalty. So, yes, the legal system made a decision, but we're still going to continue that battle because that decision is. Has a finite term around it. So I don't know if that's always like that off-rand. We're never getting off.”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“And so, you know, you break bread, and then the next morning somebody files a lawsuit you didn't know about that was going to happen. It's common to have to juggle these different relationships and Different level of tension in the relationship at any given time, we just have to navigate that and to some extent I also recognize that they're navigating a similar set of tensions on their side. So we are all in the business of monetizing content and putting that content in front of the consumer. What I think that value is versus what somebody at DSP thinks that value is obviously differs and hopefully we come together and get to some agreed upon value. This is going to be a little bit of the same thing and it's no different than all of the tensions we've had along the way with the DSPs and the settlements that we've come to and that it'll be a continued battle because we continue to fight for creators and they will continue to fight for minimal cost on that side.”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“This is a dynamic that is ongoing in the music industry where you sue each other during the day and then you have dinner together at night.”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“We're back talking about disruption and what music licensing can even look like in the future. So, an interesting aspect of this problem, like I said, it's sort of unsolved. What does the deal look like? It could be a flat fee. It could be, hey, just recognize when you've obviously derived something from our work and pay us a percentage. Who knows what that's going to look like? You might get one deal from Anthropic. You might get another kind of deal from OpenAI, which is backed by Microsoft, and a third deal from Google, which owns YouTube, which is, as you said, a key partner of yours How are you managing thinking about all of that, right? And anthropic has a bunch of money from, I think they have Amazon money now, right? Also a key distributor of your work.”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“When I see this, I copy and paste it and put it in the digital licensing Slack channel. hand, then I see what happens with it.”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“Yes, because there's so much volume of what would be generated and so much unique volume. Whereas those songs are. You and this many other people are going to listen to X. Yeah, I haven't thought about what the economic model looks like, but clearly. This lyric is based on something that the Danoffs and John Denver wrote at some point.”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, I don't. How much of my? Like, I pay Spotify in ever increasing amount of money a month at this point, right? And I can calculate to some pennies based on how much I stream from various artists, how much might go somewhere. It seems impossible to do that with an AI.”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“Claude can do that, and that's fine, but if this is recorded and released and monetized and commercialized and used in the next Google product launch, I don't think”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“I also printed out the real lyrics so that we could compare, compare and contrast. It sounds like a high school assignment.”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“And Claude wrote me a song that has a very nice first verse The chorus of the song that Claude wrote for me goes like this, maybe it sounds familiar Country Roads Take me home to the place I belong West Virginia Mountain Mama”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“You think there is a way? I think there is a way. I think that you need to essentially hit an inflection point where a work is enough like another work, where there can be some IP, some ownership attributed to that other work. I don't know how you determine that threshold, whether it's court progressions, notes, et cetera. There has to be some way to give credit. I generally agree with what you're saying in that All of these ideas are based on a past idea. All of these new music is based on something you've heard before, but you've created something new. But this is a little bit different. Can I tell you my test that I ran this morning? Yes.”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“That's the derivative work in your So, the problem is, I understand it, and I'm very curious for your understanding that if you ingest the whole of recorded music in history and then generate something, a song, a voice, a vocal melody, whatever it is, there's no way to trace back the works that that was derived from, right? You have the mass of ingestion. I think there's a way”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“I know. And I kind of agree with that personally. Now, I may be saying something completely wrong from a business standpoint. Like I shouldn't be saying, but How is that any different than reading a history book than reading a science book? It's training. You're learning. You're educating. If that training results in a product that is then commercialized and monetized, that's a different thing. Then that IP is standing on the shoulders of IP before it. And so that creator should have recognition.”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“So until there's market demand for something like that, I'm not really sure why we would go and develop it. Other people can develop it if we have IP that has an interest in that new work, great. But as I said before, we're not in the software development technology development business. We're in the music creation business, so we'll continue down that road with people and artists and creators because we believe that people's connection to music is a human experience. And that is still has value. So that's where we are”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“Okay, and say there's, I mean, you pick the number, there are 100,000 tracks being added to the streaming platforms a day, 150,000, whatever that number is, it doesn't matter because it's just so many that nobody has the capacity to listen to that. But the consumer is not clamoring for that nameless faceless content”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“No. I mean, we may have revenue that comes from that line of business, but our business is creating new An extent possible unique music and cultivating the careers of artists and songwriters. That may become a revenue line item for us, but that's not one that we're going to build a team around to go and chase.”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“But for you as the catalog holder, do you see that as okay? This is potentially an avenue for us where we can go assert our Copyrights against a new artist because they sound like one of the Sauniser catalog. Is that a line of business for you?”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“Right. Well, that's, I mean, whether that has to do with what's happening today for a young breaking songwriter that's often been the cost of entry. Right, so I don't think that's necessarily new news”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“But that's what I mean by the coin flip, right? Like if you can only win if you provide Edge Sheeran and not on a legal basis, like. To me, that's weird, right? Ex copyright lawyer, that's, and what I see is the music industry is like, screw that. Going to build our own private copyright law system where we're going to do all these side deals and people will never really know. And you see young artists have to give their publishing to older artists just to avoid the controversy.”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, it feels like fair use in music is more of a coin flip than ever before. And the risk of going to court, maybe you'll get the blurred lines verdict, or maybe you'll get the Ed Sheeran verdict. Right. And that is a total coin flip. Like, I couldn't tell you why.”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“That That's very much on the shakiest ground. That's not enough. I mean, there are a finite number of notes, chord progressions, you know, combinations. Every creator today, consciously or subconsciously, has been inspired by something in the past, the extent to which a work is a derivative work is what is that gray area and what there needs to be a decision. I think we're always going to have these types of infringement cases. The degree to which they have legs to stand on today has certainly been compromised, I would say.”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“And that feels to me like right now the likelihood is a bunch of copyright owners like yourself deciding that the value of the catalog is suing Ed Sheeran for a new song that has nothing to do with the catalog, but might sound alike or share a chord progression. And that feels like it's on the shakiest ground right now.”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“That's the idea, right? What you know is better than what you don't know. So that's a little bit of the conversations that I'm getting. I think You're always going to have these types of infringement lawsuits come out of the woodwork. I do think technology is going to help predict. What's happening there? I think that we might live in a time where songs get delivered and they actually go through some kind of a assessment of likelihood. You have to.”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“I don't think any of us are changing copyright law anytime soon. The people who Would be leading that charge from my conversation seem to be hesitant about going down that road because of the unexpected results that could come about in other changes in that exploration. So it's almost the devil you know is better than, what is the saying? I'm very bad with my idiomatic phrases”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“Enormous set of decisions you were going to have to make in the future is around AI, is around Fighting through the courts to change copyright law is about deciding whether to sue some of the generative AI companies around training. I want to come to that because I think that's a huge thorny problem that you are well suited to speak to. But I first just want to get a sense of How you think it's going in the industry right now? So we just had Larry Lessig on the show. I know you listened to that episode.”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“I like to sit on things. I think it gives you perspective. I definitely see myself changing my mind. So when I have time, I really take the benefit of that time. I'm super conscious about not focusing on the wrong thing and not focusing on the noise. When I'm making decisions, I think Feel like I'm just looking at a bucket of stuff and I need to take everything that's irrelevant out that's really clouding my judgment. And once I do that, I do certainly have a lot of clarity. I walk through a lot of consequences with decisions because I think that real life walkthrough helps how you think about the outcome. So that kind of sums it up”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“That certainly was not their audience. And yet when you attend a show that they had, say, in the last month, you've got a completely different demographic than who was listening to their music because of the viral moment. So Those are the types of events that you can't predict them, you can't plan them down to a very granular level, but you can certainly start developing opportunities around them. Not everyone's going to work, but that's what that team is focused on.”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“I mean, I don't really participate in that marketing meeting, but you look at music, cigarettes after sex. That's music that has had a viral moment.”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“Do you look at something like the joke I keep making is that I've been trying to get away from Fleetwood Mac since I was in high school. I can't escape this man. They just keep coming back. Do you look at something like the resurgence of Fleetwood Matt? Absolutely.”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“We have a team that is pitching this all the time. Again, the recorded size of our business is not the largest part of our business, but it's, you know, as you said earlier, part of your value is determined by your numbers on social media, whether you're a new artist or an existing artist, a new catalog, existing catalog. Those views, those eyeballs that you have are contributing to value.”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“Because you have catalog, when you talk about playlisting and marketing, you've got catalog. You don't have new stuff. A lot of the pressure on those services is promote new stuff, break new artists. Do you have people who are saying, okay, we got to get some TikTok dances going on John Denver? I do. You do. How does that work?”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“Haven't had to build technology, and we're not software developers, and I don't see a world where we do that. I see a world where we're always going out and buying the best technology that we can To actually accelerate our systems. So, for instance, we use Disco to manage a lot of the music and how we license the music, et cetera. Relationships are very important with our DSPs, and we are always looking to cultivate and evolve the relationships that we have there and continue to Just improve and make the licensing more efficient and have relationships that go across marketing and playlisting and all kinds of things like that that can be beneficial to our catalog.”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“So that's something that we're focused on with our creative team. And then anything else that's specific to that deal at the same time, everything's being loaded up and ingested by our royalty team to prep for next royalty runs and how these people are getting paid based on what rights, et cetera. It's a lot of very, very detailed work that goes into buying the stuff, getting the stuff, selling the stuff.”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“The different functional areas so that people know hey, we just bought this asset. Here are the rights that we're getting with this asset. Here's what we need to do with ingestion. Here's what we need to do with administration. Here are the rights that are not covered. Here are the territories that are not covered. Every deal is specific. Here's how we're going to ingest it into our licensing system, et cetera. From there, digital licensing sync, et cetera, has a lot to do with actually taking the metadata associated with the music and then starting to pitch it out and register it and claim it and do all of the things that we do on the digital side. We also have marketing involved the entire time along the way because they will announce the deal. We will think about when we're announcing the deal. There's obviously some relationship building that needs to happen if it's a new client, not somebody that we've been in business before somehow or another. And there's a lot of creative discussion around what we can do with the catalog, especially if it's a relationship where it's catalog and an ongoing relationship with an artist.”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“Fine, I'm gonna decode it for you When we buy this stuff, there is a team of six people who are analyzing the stuff. Those six people are really working during that deal process. Once we complete the transaction and we finish all of our underwriting and we finance the deal, we then have an ingestion process. That ingestion process is kicked off with a meeting that involves”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“We are a very lateral organization, and we have been since day one. We continue to grow that way. I think that at some point you get to a point of tension where it's not possible to continue with that kind of flat hierarchy. But we haven't hit that yet, and it hasn't been a problem for us, but that's a lot to do with our culture. We've had zero senior level management turnover since inception. That has a lot to do with our culture. It's a very open environment with people who have grown in lockstep with the company. And I think that's just been really important. And I'm both proud of and indebted to my team. And so that's a little bit about how we're structured.”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“Plus, it's included in your Netflix membership with zero extra costs. Go to the Games tab and play FIFA World Cup launch edition now, only on Netflix. Back to talk about one of the most controversial issues in the music industry today copyright and AI. I want to ask a couple of the decoder questions and I want to talk about AI, and I want to talk about where copyright law is going, because those things seem to be crashing into each other, and you are very much at the center of those two ideas. But real quickly, tell me how Reservoir is structured. How have you organized this business?”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“Person. And I would say that bad news in music is bad news in music. You know, there was a lot of traffic last week around accruals, for example, and how people were accounting for accruals over the course of the past year with the new royalty rates. That's bad news for music. Now, there is no issue around that, but do you see what I'm saying? We want generally positive investor positivity around music is important.”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT
“Exactly. So we only operated in a zero interest rate environment, and now we're not. So we too take that into account. And it's important for us to create long-term value in return for our shareholders, and we're conscious of that. And so we're never going to do a deal that doesn't have the numbers that qualify for us making that investment. We're really passionate about music. We are all musicians somewhere along the way. We are trained. We love music. We're really dispassionate about our investments. And that's important. So I know that that's how we have run the business thus far. That's how we hope to continue to run the business. I think people have gotten very, very excited about music, about music assets, about subscriber growth. There's just been a lot of press, a lot of education, and sometimes you might, what's the saying, get over your skis?”
2023-10-31 · Decoder with Nilay Patel · AI is on a collision course with the music industry. Reservoir's Golnar Khosrowshahi thinks there’s a way through it · IDENTIFIED FROM THE TRANSCRIPT