MetaWorks’ MusicFX Forms New Music Publishing Division as AI and New Technologies Disrupt Industry

Company registers with ASCAP as new division seeks to create, develop, and monetize a content library focused content, film scores and soundtracks.

MetaWorks Platforms, Inc., an award-winning Web3 company that owns and operates blockchain platforms in the entertainment & technology space, announced that it has registered with ASCAP (American Society of Composers, Authors & Publishers) and created a new music publishing division focused on the Web3 opportunities in Music, Movies and AI.

AI has the potential to transform the music publishing business in several ways. Overall, the integration of AI into the music business has the potential to revolutionize several aspects of the industry, providing new opportunities for content creation, personalized experiences, data-driven decision-making, and improved collaboration. At the same time, the ability to distinguish AI created content from content that has been created by humans will, in our opinion, become even more valuable as AI blends deeper into society.

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“Today we’re pleased to announce the creation of a new publishing division of our MusicFX web3 platform. With this new music publishing division, we plan to build, develop, and monetize a music content library initially focusing on the scores and soundtracks of movies,” MetaWorks Platforms President Scott Gallagher commented. “More content is being produced today than ever before. AI has only accelerated that process. Bill Gates 1996 essay titled “Content is King” has never been more relevant. Today music, movies and many other forms of content are made and posted from a simple smart phone to social platforms in minutes. Everyone is a brand today which means there are more and more opportunities to monetize and publish that content in music, movies, commercials, online and more. We’re excited to add music publishing to the toolbox of both MusicFX.io and Vuele.io as we seek to further monetize these platforms.”

Music Publishing Market was valued at USD 5.96 Billion in 2020 and is projected to reach USD 9.35 Billion by 2028, growing at a CAGR of 5.90% from 2021 to 2028.

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