The news: Meta released MusicGen, an open-source AI music generator that's described as "ChatGPT for audio." Details: Trained on 20,000 hours of licensed music and more, MusicGen can create new songs from text or melody prompts. It allows users to describe their desired music style, optionally provide a tune, and click "generate" for about 12 seconds of audio. While it can't produce vocals, it specializes in instrumentals, though the generations tend to fall short of professional quality. A demo is now available on Facebook's Hugging Face AI site. What brands should care: The release comes about a month after Google made its text-to-music AI, MusicLM, available for testing. The model generates a 20-second music sample based on a text prompt, with some samples including "wawawa" vocals. What the numbers say: The global market for generative AI in music was valued at $229M in 2022 and is expected to grow rapidly at a CAGR of 28.6%. By 2032, it is projected to generate revenue of over $2.6B.
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