Popular file-sharing service that thrived in 2000s launches 'next wave' of music
FILE - A woman works on a computer at home in 2006. (Photo by Fairfax Media via Getty Images via Getty Images)
A brand once known as a file-sharing service in the early 2000s has made a comeback with the launch of a new A.I. music studio.
LimeWire Chief Operating Officer Marcus Feistl joined FOX Business' "Cavuto: Coast to Coast" on Friday to explain how the platform is ushering in the "next wave of content creation" with the use of artificial intelligence.
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LimeWire caters to content creators, brands, and artists with its "mission to reshape the creator economy," according to its website.
The LimeWire logo is pictured in a provided press image. (Credit: LimeWire)
The COO explained how the platform was relaunched last year to inspire the community to create their own user-generated content such as images, video, text and audio with the addition of the recently launched A.I. music studio.
"Within the last 12 months or so, we've seen a lot of user-generated content, a lot of requests from our community to get the ability to also create content themselves, which is why we made a big leap into this space and are pretty much enabling anyone on the platform to become a content creator and to also start creating their own music," he told ahost Neil Cavuto.
Feistl noted the differences between the studio and music streaming services such as iTunes and Spotify.
"We don't really see ourselves as a distribution model for existing creators. It's much more [about] getting users to generate their own content," he said.
He also discussed how the platform addresses content redundancy, explaining how the music and data used are licensed.
"We've actually put a lot of thought into this." Feistl told Cavuto, "All the music results that users get from the studio is licensed content. Our paid users can also use that content and use it commercially on other platforms, which has been one of the big parts that we put a lot of focus on in the development phase."
FILE - A person enjoys the sunshine on January 20, 2006 in Melbourne, Australia. (Photo by Cameron Spencer/Getty Images)
When Cavuto asked if the platform's goal was to "destroy" the music industry, Feistl assured him that the platform's intentions are not hostile.
"We love the music industry," he said adding that the A.I. music studio is "just a new way of creating content and bringing the music industry into pretty much the next wave."