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More than 500 hours of video content are uploaded to YouTube every minute, according to research by German market data firm Statista. While most digital content requires good music, finding the right music for videos is a challenge. Now a beginner reports that it helps to create audio tracks using artificial intelligence, which promises to solve the problem of acquiring and licensing music.
According to a study by the forecasting and analysis firm Oxford Economics, India alone has 80 million content artists, and social media and digital content creators have made a strong contribution to the Indian economy, with an inflow of Rs 68,000 crore since 2020, (a crore in the South Asian numbering system is equal to ten). Millions, it is widely used in India, Bangladesh, Pakistan and Nepal, which means the figure is 680 billion rupees).
In 2021, two friends with musical and technological backgrounds introduced Bitofen. AA, a Bangalore-based music technology company, aims to help users of YouTubers, advertising agencies and wedding film production houses create original soundtracks using artificial intelligence.
The start-up company, co-founded by Mansoor Rahim Khan and Siddharth Bhardwaj, who met on India’s popular Entrepreneur First, claims to be bridging the gap between music authors / content creators by giving them access to high quality music. Affordable, royalty-free, and mood-based author AI solutions developed by the company.
Regarding the challenge facing the company, Mansour Rahim Khan, co-founder and CEO of the company, told the Indian “YourStory” platform: “The challenge we noticed before we conceptualized Bitofen. AA” is that no matter how thriving the sector is, the biggest problem for brands and independent creators has been a constant effort in acquiring and licensing music, “noting that this struggle over the years has led to a massive waste of time and resources within the creative workforce.
He said that the company’s platform can even be used by individuals who have little or no knowledge of music, since all a content creator needs to create a new track is to choose a new project, ‘ choose a favorite genre and choose a mood.
The technology used is a combination of artificial intelligence and music theory, and with this combination the company creates an original audio recording based on the user’s preferences.
“It also solves the problem of acquiring and licensing music by making purchases from popular artists and producers, and then using their data to feed algorithms to produce original music,” he added.
The company now claims to be India’s first AI – powered music technology platform. According to the co-founder, it is still in a pre-income stage, it has 200 active users, with about 80% of user interaction coming from India and about 20% from the US.
Mansour notes that “the company’s team works in music technology research, engineering, design, music production and community building teams.” The company also works with more than 60 musicians to obtain all of its music samples from them.
Regarding product differentiation, Mansour said that global music companies have black box algorithms that do not allow any precise user customization, as well as using “Musical Instruments Digital Interface Standards” to compose music with poor quality output, explaining: “We are trying to create an instrument that helps the user to compose The tracks are in their minds by giving them as much control as possible, without delving into the technical aspects of composing and producing music.From a technological point of view we work with audio data that the make end result much better in comparison. ”
The uniqueness of the platform, in his opinion, is in its focus on regional music, as the beginner plans to integrate music theory across different genres and geographically into his compositional algorithms.
The new venture also claims to keep the identity of artists at the forefront and focus of its product offerings, and its founder believes that the quality of the artists they work with will drive quality, consumer interaction and product growth.
The platform will be based on subscriptions ranging from $ 20 to $ 100 for individual content creators, small advertising agencies and wedding productions, noting that the total market for the music creation industry worldwide is $ 10 billion.