It is clear that the three monopolists are playing for time in order to stifle all innovations and the mostly much smaller companies behind them that threaten their position of power, even if they have rather poor arguments. It is downright ironic that the monopolists were only able to obtain the necessary funds (and also the funds to lobby legislators in this way) through their essentially illegal, market-dominating position and by exploiting the artists in whose name they pretend to act.
Big news in the music AI space. Interesting and potentially worrying implications for Suno, which has pulled far ahead in the race and recently announced $150M ARR milestone.
Although a predictable outcome, still sucks to see. Hopefully someone releases a really good model that big media can't clamp down on.