10:22 AM EDT, 06/26/2024 (MT Newswires) -- Alphabet's (GOOG, GOOGL) YouTube ( GOOG ) unit is negotiating with Sony ( SONY ) , Warner Music ( WMG ) and Universal Music for the use of their songs in training its artificial intelligence tools, the Financial Times reported Wednesday, citing people with knowledge of the matter.

The company is seeking to pay for the licensing so it can legally train AI algorithms for upcoming music generation tools slated for release this year, the FT reported. Unlike royalty-based agreements, these payments resemble one-off deals common in social media for access to music content, according to the report.

Negotiations are ongoing with Sony ( SONY ), Warner, and Universal, though final deal terms remain undetermined, the sources told the FT.

YouTube ( GOOG ), Sony ( SONY ), Warner and Universal did not immediately respond to requests for comment from MT Newswires.

(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.)

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