BMG's Royalty Processing Accelerated with Rackspace Technology and Google Cloud AI

LONDON, Jan. 18, 2024 (GLOBE NEWSWIRE) -- In the rapidly evolving music industry, effective and swift royalty processing remains a critical aspect for artists and songwriters. Rackspace Technology, Inc. RXT, a premier provider of hybrid multicloud technology solutions, has recently brought notable service advancements to BMG, one of the world's leading music companies. This improvement has been achieved through the integration of Google Cloud's advanced Artificial Intelligence (AI) capabilities, delivering unprecedented speeds in royalty calculations.

The Intersection of Cloud Technology and Music

The collaborative effort between Rackspace Technology and BMG signifies a leap in how music royalties are handled. By harnessing the power of Google Cloud AI, a cutting-edge product from Alphabet Inc. GOOG, BMG has reportedly increased its royalty processing speed by tenfold. This enhancement not only translates into quicker payouts for artists and songwriters but also into enhanced accuracy and efficiency in royalty distribution, ensuring that creative professionals are remunerated fairly and in a timely manner.

Impact on the Music Industry

Music streaming services such as Spotify Technology SA SPOT, headquartered in Luxembourg, Luxembourg, have revolutionized how listeners access music, proliferating the number of transactions that entities like BMG must process. The speed and efficiency provided by Rackspace's application of Google Cloud's AI tools are thus crucial in adapting to the complexities of modern music consumption and ensuring that artists and rights holders receive their dues in the burgeoning digital landscape.

Future of Multicloud Solutions in Creative Industries

The collaboration between Rackspace Technology RXT and Google Cloud AI represents a growing trend where multicloud technology solutions are increasingly becoming vital in creative industries. As these industries grapple with large datasets and demand rapid processing, the deployment of such technologies showcases the capability of multicloud environments to address these needs effectively and paves the way for further innovation in the sector.

Rackspace, Google, BMG, Royalties, AI, Cloud, Music, Streaming, Technology