ABBA’s Björn Ulvaeus has raised concerns about artificial intelligence potentially reducing musicians’ revenues by 20% by 2028, according to a new industry report. Daniel Thomas, writing for the Financial Times, reports that the International Confederation of Societies of Authors and Composers (CISAC) study predicts cumulative losses of €22 billion over five years for creators. The report indicates that AI companies’ revenues in music and audiovisual sectors could reach €9 billion by 2028, up from €300 million currently. While Ulvaeus supports AI’s creative potential, he emphasizes the need for fair compensation when AI systems use artists’ work for training. The CISAC president specifically criticized tech companies for using artists’ content without permission or payment, citing recent lawsuits involving AI-generated music mimicking ABBA’s style.