FINWIRES · TerminalLIVE
FINWIRES

Update: Market Chatter: Spotify Co-Chief Executive Defends Expansion into AI-Generated Music

By

(Updates with the company's response in the fourth paragraph.)

Spotify Technology's (SPOT) Co-Chief Executive Alex Norstrom has defended the company's expansion into artificial intelligence-generated music, the Financial Times reported Tuesday.

Speaking at an interview, Norstrom said there have been "rogue attempts" at using AI tools to make music, adding that Spotify's "controlled" products offer a better alternative to the unregulated AI "slop" already spreading online, according to the report.

Norstrom's comments come after the company signed a deal with Universal Music to allow users to create AI-generated covers and remixes of songs from participating artists, the FT reported.

In response to' request for comment, a Spotify spokesperson pointed to the company's investor day blog post, which said that as generative AI accelerates music creation, artists can lose control of their work and value can be created without flowing back to creators if a rights system is not in place.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $528.84, Change: $+8.98, Percent Change: +1.73%

Related Articles

Wire

Agnico Eagle Mines' Outperform Rating, C$350 Price Target Unchanged at National Bank of Canada

National Bank of Canada on Monday reiterated its outperform rating on the shares of Agnico Eagle Mines (AEM.TO, AEM) and its C$350.00 price target after the company decided to go ahead with development of the Hope Bay mine in Nunavut.The bank said higher-than-modelled capital costs at the Hope Bay project, which were estimated at US$2.4 billion, have resulted in a modest reduction in the miner's net asset value per share, the bank said.The rating remains based on Agnico's operations in low-risk jurisdictions, combined with its continued strong/consistent operational performance and improving organic growth outlook."Agnico has maintained capital discipline with increasing capital returns to shareholders," National Bank said."With further outlining the company's long-term growth outlook, we expect the company to maintain its premium multiple relative to peers, trading at 6.8x our EV/2026E EBITDA estimates and 1.08x NAV compared to NBCM Senior Peers at 5.9x and 0.86x, respectively," the bank added.Price: $250.45, Change: $+7.51, Percent Change: +3.09%

$AEM$AEM.TO
Wire

Black Canyon Confirms Continuity of Manganese, Iron Mineralization at Western Australia Project

Black Canyon (ASX:BCA) confirmed the continuity of shallow and high-grade manganese and iron mineralization at its Wandanya project in Western Australia, according to a Monday filing with the Australian bourse.First assay results received from resource definition drilling include 7 meters at 35% manganese, including 4 meters at 44% manganese from 2 meters, 8 meters at 33% manganese, including 4 meters at 36% manganese from 3 meters, as well as 10 meters at 60% iron, including 5 meters at 61% iron from 4 meters, 9 meters at 59% iron from 2 meters, including 3 meters at 63% iron from 6 meters, the filing said.Resource definition drilling will continue with further assays expected over the next two months, per the filing.Shares rose past 1% in morning trade Monday.

ASX:BCA
Wire

Pharming Says European Commission Grants Marketing Authorization to Joenja

Pharming Group (PHAR) said late Friday the European Commission has granted marketing authorization to Joenja for activated phosphoinositide 3-kinase delta syndrome, a rare primary immunodeficiency, in adult and pediatric patients aged 12 years and older.Joenja is the first approved treatment in the European Union, the company said, expecting the first European launch in Germany in Q3 of 2026.Price: $12.78, Change: $-0.03, Percent Change: -0.23%

$PHAR