Tone Debuts AI-Powered Contract Analyzer

Tone, the royalty management software tailored for the music industry, has launched its latest tool, Contract Analyzer.

Why it matters:

• As per the company’s press release, the tool positions Tone as the first royalty system to leverage AI for contract interpretation.

• The Contract Analyzer is designed to alleviate the most burdensome part of transitioning to a new royalty system or running royalties: manually interpreting complex legal agreements.

• Clients using Tone include labels and business managers for artists such as Lil Baby and JuiceWRLD, as well as Range Media Partners, LVRN, The System Records, and Steve Aoki’s label, Dim Mak.

How it works:

• Users upload a PDF contract into the Tone application.

• The AI rapidly produces an executive summary of the contract’s key clauses and terms, and a table of key terms and corresponding values, allowing users to more easily input the data directly into Tone’s contract management interface.

• To ensure accuracy and confidence, each term and value in the table includes a direct link to its location in the original PDF.

• Complex nuances such as different rates in various territories, escalation points, and pre- and post-recoupment splits are gathered by the Analyzer into a single, actionable table.

What they said:

• Brendan Kao, CEO of Tone: “We want to place our flag in the sand here, being the first to do this, and we plan to continue to leverage AI to save time and money for the people who do royalties. Computers were built to do math, and that’s what royalties are – our clients have better things to do.”