In this paper, we discuss the use of semantic technologies in the music industry. Specifically, we describe our vision of how the Hyperknowledge model can leverage the development of AI-based applications in this domain. Hyperknowledge is a multimodal-aware knowledge representation framework tailored for hypermedia information. It allows the modeler to describe and link fragments of multimedia content (e.g., audio, video, text, image, etc.) with high-level semantic structures. Hyperknowledge can also complement existing approaches by providing a glue model that can be used to map among distinct, but related, musical and audio material. We discuss the use of Hyperknowledge as a representation framework for music information and some novel applications that this approach can support.