Seven opens early talks with AI platforms over content deals
The discussions add to the urgency within the Australian media sector to secure compensation from generative AI firms, which rely on media content to train their large language models.
Seven West Media has opened talks with generative artificial intelligence platforms such as Microsoft and OpenAI to discuss content deals, as it wrestles with ongoing weakness in the television advertising market and the upcoming expiry of lucrative agreements with Meta and Google.
Kerry Stokes-controlled Seven reported a sharp drop in half-year earnings on Tuesday, posting a 53% profit slide to $54 million, down on the $115 million reported in the first half of last year. Revenue was also down 4.8% to $775.7 million off the back of a weak ad market. The stock was down about 15% at the time of publication.
Seven, which has taken a strident approach on the regulatory front in Australia, has joined a global push by media companies to safeguard its content from unauthorised use by AI platforms.
On an earnings call Tuesday, departing Seven chief executive James Warburton alluded to the company’s efforts to secure compensation from generative AI firms, which rely on media content to train their large language models.
