How record labels are handling AI music

**SPEAKER_1** (0:00)
Running a business is hard enough, so why make it harder with a dozen different apps that don't talk to each other? Introducing Odoo, the only business software you'll ever need. It's an all-in-one, fully integrated platform that makes your work easier, from CRM, accounting, inventory, e-commerce and more. And the best part, Odoo replaces multiple expensive platforms for a fraction of the cost. This is why over thousands of businesses have made the switch. So why not you?
Try Odoo for free at odoo.com. That's odoo.com.

**Kimberly Adams** (0:31)
Why all those World Cup fans that came into the US actually count as export data for us.
From Marketplace in New York, I'm Kimberly Adams. Later this morning, we'll get a reading on service sector activity in July from the Institute for Supply Management. Some data from earlier this week shows the rest of the world has been buying more American services. That's according to a report out yesterday from the US. Department of Commerce. Service exports went up $1.1 billion in June from the month before. Marketplace's Stephanie Hughes looks at what's going on.

**Stephanie Hughes** (1:07)
Remember all those Scots who visited Boston for the World Cup? They wore kilts, drank a bunch of beer, and also helped drive up US service exports.

**Mary Lovely** (1:16)
We welcomed a lot of tourists from overseas, and that's a good thing.

**Stephanie Hughes** (1:20)
Mary Lovely is a senior fellow at the Peterson Institute for International Economics.
When people from abroad visit the US and stay in hotels and buy tickets to soccer games, that's considered an export, because people from other countries are consuming our services. And that popped in June. But Lovely points out this bucks a recent trend. Last year, the US saw a drop in international visitors.

**Mary Lovely** (1:42)
The United States has always been a real tourist attraction for obvious reasons, right? We've got great things to see and do here. But the sense of America as being a welcoming place, I think, has changed.

**Stephanie Hughes** (1:54)
Another driver of service export growth in June, financial services, which includes things like underwriting, money management, and advising. Cornell economics professor Nancy Chow says that's part of a longer term trend.

**Nancy Chow** (2:07)
Really a reflection of the fact that the US export what it knows, right?

**Stephanie Hughes** (2:12)
Financial services are an industry the US is famous for. It's one of the reasons the US actually has an overall trade surplus for services, meaning we sell more of them than we buy.
I'm Stephanie Hughes from Marketplace.

**SPEAKER_6** (2:45)
Okay, let's get real about health care for a second. I think we can all agree it doesn't always work the way it should.
If you've ever waited on a prescription refill or had a hard time getting the care you needed, you know what I mean. The system should just work better for everyone. That's exactly what the people at Optum are trying to do every day. They're a health care company linking patient care and pharmacy services and using data and technology to drive the whole system. So care is connected, not complicated, for patients and providers.
Things like making it easier to get care that looks at the whole person, from primary care doctors to mental health support and even in-home care, and then using technology to make sure they all work together. Technology designed to help doctors spend less time on busy work and more time with their patients. And those prescriptions? Optum is bringing costs down, saving patients money and making it easier to get refills. Little by little, Optum is helping make health care work as one for everyone. Head to business.optum.com to see how.

**SPEAKER_7** (3:45)
This podcast is supported by Raymond James, a financial firm offering wealth management, banking and capital market services that are inspired by people.
Before Raymond James Financial Advisors build plans, they build relationships so they can craft individual strategies designed to achieve priorities and pursue what's possible. That's the power of personal. Disclosures at raymondjames.com. Raymond James and Associates Inc., member NYSE, SIPIC.

**Kimberly Adams** (4:16)
Music streamer Spotify released its latest quarterly results yesterday, reporting 300 million premium subscribers and 14% revenue growth. The company also pointed to rising costs tied to AI-powered features. The music industry is wrestling with the best way to incorporate and acknowledge artificial intelligence in the business. AI tools are one thing, but what about AI-generated music or AI-generated artists? Last summer, a rock band called The Velvet Sundown reached viral streaming success on Spotify with their song Dust on the Wind. Both the band and the song were generated by AI.
Now, a year later, record labels are proposing new guidelines on how music generated by artificial intelligence should be treated. Joining us to discuss is Dan Runcie, founder of Trapital, a music and entertainment research group. Dan, welcome.