Keith Newman, President and Managing Partner of The GTM Firm and Newman Media Studios, host of The Look Back podcast with 250k+ listens, and creator of The Startup Ecosystem newsletter offers insights on what the entire music industry is preparing to face.
The AI tsunami: "I think AI is the huge tsunami wave that is going to change an industry that's still finding its balance in the world of TikTok meets YouTube meets Spotify," Newman says. He acknowledges that individuals and companies are at various stages of adapting to the latest technological changes, from those still focused on traditional radio play to others exploring how AI can reduce production and distribution costs.
AI's current muscle: While AI's potential seems vast, Newman believes its current strength lies in process optimization rather than pure creative generation. "Today it's that middle layer of expedience, where AI is going to have the most leverage," he explains. He elaborates that while AI can assist in tasks like generating basic lyrics or musical flavors based on prompts, "it's not going to come up with that automatic hook. It's not going to come up with that amazing intro and the chorus."
Despite AI's impact, Newman underscores the unique and irreplaceable role of human creativity. "The creative layer is special. It's reserved for artists, it's reserved for the unique part of our population. It's knowing how to delve into the abyss and come up with something special." He maintains a positive outlook that there is still room for artists, even as AI tools become more sophisticated.
A call for oversight: But Newman expresses strong concerns about the largely unregulated nature of AI and social media. "There needs to be more regulation, there needs to be a system for reviewing and approving certain levels of this stuff," he argues, drawing parallels to safety provisions in other industries. "Why does social media and AI get a pass?" he asks, pointing to problematic content on platforms like Facebook and X as evidence of the need for "heavy oversight and watchdog government agencies."
Understanding potential: For artists looking to thrive, Newman says it's important to understand and leverage new platforms effectively. He notes the surprising dominance of YouTube as a podcasting platform, driven by audience preference for video, as an example of understanding audience preferences. He also praises innovative approaches, such as his friend Tom Sarig's AntiFragile Music, which focuses on helping "build mid-size artists and help them develop their brands and go to market in a compelling way that acknowledges the shift" from traditional radio to a multi-platform digital presence.
A dynamic future: Reflecting on the current state of the industry, Newman describes it as both challenging and full of opportunity. "It's a crazy time, but a dynamic time too," he remarks. He observes that "most artists are pretty positive on where things are going from their ability to influence their sales," despite the industry still being a "hits-driven kind of a game." The key, he suggests, is for artists to embrace their expanded role and actively engage with the tools and platforms that can amplify their creative work.