Profiting from AI Music Covers

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0:39With RSS.com, starting your own is free and easy. Upload an episode, and we distribute it to Apple Podcasts, Spotify, Amazon Music, and hundreds more. Track your listeners, see where they're from, and start earning from ads like this. Even with just 10 listeners a month. If you've been thinking about starting a podcast, this is your sign. Start free at rss.com. Welcome back to the podcast. Today we have huge news for those of you who do the Spotify streaming side hustles. Now Spotify and Universal have struck a deal allowing fan-made AI covers and remixes to be posted and I believe even monetized on Spotify.

1:22So this is huge, especially, again, like those of you who Jaden is huge on his AI music streaming and AI podcasts. He does this every single day. He makes thousands of dollars of this per month, thousands of dollars doing this per month. And so we're going to get into this article today. Before we do, I want to tell you about our school community. This is called AI Hustle. We'll link it in the description below. But this is where Jaden and I dive deep into all the different ways that we actually are using AI to make money online right now and how you can too. So one of these pillars that we always talk about is streaming using AI generated content.

2:04And so there's a whole strategy to it that Jaden will walk you through in this course. We also have been deep into vibe coding and creating new apps and websites. And we cover that. Each week we release bonus content over there, really high value stuff. And we think you will really love being a part of our community. It's$19 a month. And if you join today, it will be locked in at that price forever. So we'd love to see you over there. But Jaden, why don't you tell us about the specifics of this new deal struck between Universal and Spotify? Okay. Well, the thing that I love about that is there's a whole article in TechCrunch about this.

2:40And they were just like, watch out, like, Suno, like, here comes Spotify. And I think, well, first of all, I think this will be eventually a good competitor to Suno, which if you haven't tried it, Suno is a huge app that I use all the time. I'm a premium subscriber to it and have generated a ton of different music, done a lot of different projects with it, have posted music. I actually have an album that makes me$600 a month that I generated on Suno, relaxing piano music that I just labeled and posted. and uh yeah and it makes me 600 bucks a month generated from suno so like i've done a lot here but what i will say is i don't think this this spotify deal is going to go and kill suno i think suno has a lot of really cool features one of them being they have basically like a dod a digital audio workstation um workspace where you can like basically generate a song split it into different stems and then modify all the different stems and generate different instruments in there, right?

3:41So you like create a song and you can also do things where you upload yourself singing and it can like add instruments and background. Anyways, they do like a ton of really cool, very customized stuff. Suno isn't perfect. I will also say, so I'm curious what kind of quality Spotify comes out with. We've also just had 11 Labs jump into this and 11 Labs is a new music generator and a couple other players. I'm trying to remember. someone else just came out with one. Oh, yeah, there was one from Stable Diffusion or Stability AI. They came out with a music generator, which I have been told is garbage, but it can make six minute long songs.

4:16So it can do longer songs. I think 11 laps when they first came out made 30 second songs. Now you can do full songs. Anyways, there's a lot of people and there's UDO too, which I haven't been a huge user of UDO, but I hear it's pretty good. So there's a lot of competition in this space. I think that's why it makes a lot of sense for Spotify to get in. suno has a massive valuation a massive user base people absolutely love it um the big problem that we saw with music generation ai music generation from the very beginning was that a lot of people were making covers like you know katie perry sings xyz or snoop dog like they would go find a famous person and they would make them sing their song and of course then katie perry or taylor swift or whoever would get mad and there's like a lawsuit and then they go and sue like suno or whatever music generation tool was used to make it because how dare you steal my likeness.

5:02Anyways, there's a whole bunch of legal stuff that goes into all of that and Spotify because they already have licensing and a lot of deals with all these companies. I think they went and easily made one. And now you're going to be able to make a cover of, you know, an actual artist that opts in. All these artists have to opt in, by the way. So it's not like Spotify is doing this behind their back. But if you opt in, your fans can make covers using your voice and your style. And you, as the artist, will actually get paid a royalty for every stream along with the person that created it. So there's actually, I think, a lot of opportunity to make music and covers of different artists and get paid if you get a lot of listens on that.

5:45I have no idea what the split is going to be right now if you do a cover. Like traditional cover licensing, just so everybody knows. And I've done this before. So I actually have a song. I'll pull up the stats for it. That'll be fun. I have a song that I got someone to make a cover of. And if I remember correctly, it was like seven cents for every dollar I make in streaming revenue. The original artist gets seven cents or maybe 14 cents. I can't remember, seven or 14 cents. So that already exists. You just go get a cover license. It costs$15 to get it on DistroKid or on Lander. So it's an easy thing that's already in the market.

6:22the thing that Spotify had to get permission for with on this deal was allowing you to clone an artist's voice and style and make songs like that which gives them a very unique edge because on Suno you cannot do this and actually on no one can do this right now so if Spotify is able to do that that would be pretty crazy and you can make a lot of cool stuff I don't know Jamie would you make anything I mean I think I do think there's a lot of opportunity especially you know right now the big thing in the past few years has been all the tiktok sounds basically people remix a song to fit their video and then that sound goes viral i don't believe there's any royalty things right now at least for artists which there probably should be but i think having access to the original artist and their their likeness is going to i think people are going to be able to make some really cool things now as you had kind of mentioned i don't know how complex the spotify AI builder will actually be and what people will be able to do with it.

7:21But I think, I think it's a cool idea. I think there will definitely be some, a lot of slop out there. So I hope that Spotify's user experience doesn't change too much with this, you know, cause like, let's say you're searching for a certain song and there's like 250 remixes of it. It's, you know, I, I hope it's still easy to find the original. But I do like that the artists are actually getting compensated for this. The original artists, I think it's a way to protect them and still allow, you know, artists to make money. Well, at the same time, people are able to, you know, use AI, create new things.

8:04And I don't know, I do. I think it's kind of it's an interesting business model. I don't picture random people making covers unless they're side hustlers and trying to make some money. So I don't think your average person is going to go remix songs for fun. I kind of think it'll go the way of Sora where it kind of flops and people don't actually. But I think entrepreneurs will maybe make some money doing this. But what are your thoughts on it? I think that it will probably, maybe even normal people. I don't know. I think if there's a financial incentive, the market will grow and there's like a very clear streaming kind of financial incentive here.

8:46So something like Sora, that's actually a really good point, right? Because with Sora, you could make, you could have like, I don't know, like Sam Altman in your video with you and like the whole, it was like an AI slop deepfake platform was like the whole point of it. And yeah, it flopped, but there was, you weren't getting paid anything. It was kind of for kicks and giggles. this if you did make a high quality song that people like which by the way there have been a bunch of ai songs that have gone viral lately um most recently i saw like a friend had posted in her story um like a song is like anyways and i was like oh this song sounds cool and i clicked on it and i went and tried to find it and then i'm like wait this is ai generated and uh i was blown away but the the hook on it was really good that was like used in the story or whatever and it was a trending sound on on instagram and it was an ai generated song so anyways I think that you can make really good stuff.

9:38And if there's a financial incentive, a lot more people will do it, right? Like, if you can just go make songs like your favorite artists, and you're going to get paid like 1000 bucks a month, like people are going to do it because you really can get paid that kind of money. So anyways, I think that for that reason, it will do better than Suno. But I think you make a good point that not everybody's is going to be high quality. So I'm curious to see how it gets how that filter happens basically right like i don't think if you go to taylor swift's spotify page you're going to see everyone that's made a taylor swift cover because it's going to be a lot of slop but there might be like you know like 20 or 30 people that make incredible covers i mean let's face it taylor swift and most famous artists don't write all of their music they buy music from other songwriters all of those songwriters could just be going and creating these covers now with artists that they like and uh i would predict that if any of these songs do well enough any of the ai generated fan covers do good enough the artist will actually go and cut a real record of that ai song maybe spiff it up or change the lyrics a little bit but like you can imagine if you had you know post malone going super viral for an ai generated song why wouldn't he just go and like actually record the song pay whoever came up with it like a little bit more and make it a real thing and maybe change the lyrics to be a little bit more personalized to him.

11:00But I don't know. I think I think it could be like almost a pipeline for finding new trending sounds that artists could go and cover and make a real real albums with. Yeah, no, that's interesting. Like we mentioned at the beginning, I'm curious to see if it is like a full digital audio workspace like you mentioned, or is it just like a click to remix, you know capabilities i'm curious to see what they roll out here but yeah anyways i uh i realized i gotta get into my phone and authenticate some stuff to show my um to show how much money i actually made from my cover music but i will screenshot that after the episode and post it in the school community if anyone's interested i did uh i had a cover song that i paid a girl to sing a cover to a popular song got over a million streams and uh made a lot of money so anyways i'll screenshot that and put it over in the school community for anyone that's listening.

11:53You can go find it over there. All right, guys. Thank you so much for tuning into the podcast today. All sorts of incredible new ways to make money are coming out. If you're interested in learning more about how to do that, we would love to have you in our community and we hope you all have an incredible rest of your day. Here's golf legend John Daly. Hell yeah, these wins are piling up faster than my divorces. I only spent on moto America's social casino. You know, I've won a couple of majors. And on Moto, I've won majors, grands, and epic jackpots on their classic Vegas slots with huge, huge bonus rounds.

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13:04If you've been thinking about starting a podcast, this is your sign. Start free at RSS.com.