Generative AI to cost creators $23 billion by 2028 as market grows to $67 billion; Reveals report

Generative AI is expected to lead to significant revenue losses for music and audiovisual creators, according to a study commissioned by CISAC (International Confederation of Societies of Authors and Composers). The study estimates that creators will face a cumulative loss of $23.12 by 2028, with $10 billion in the music sector and $12.61 billion in audiovisual. This represents a loss of 24% of music creators’ current revenues and 21% for audiovisual creators due to the substantial impact of AI-generated works.