AI startup Boomy looks to turn the music industry on its ear

Last December, Universal Music Publishing Group bought up Bob Dylan's entire discography in a deal estimated at more than $300 million. Similarly, Stevie Nicks sold an 80 percent share of her works to Primary Wave Music for an estimated $100 million that same month. But as all this money changes hands for the industry's biggest stars, one songwriting startup has plans to open the firehose of music royalties to the everyman. "You see these huge deals, like the Bob Dylan deal with the publishing rights and all this money," Alex Mitchell, co-founder and CEO of Boomy told Engadget. "It started with a recognition that most people are going to be left out of that and it caused us to have a conversation about equity in the music industry, 'how do we fairly remunerate artists, what's the role of labels,' there's just chaos happening in the music industry right now." Mitchell realized that one major obstacle keeping amateur musicians from becoming published musicians was a technological one.