TIKTOK AND UNIVERSAL MUSIC GROUP SIGN GLOBAL LICENSING DEAL
After announcing deals with Sony Music in November and Warner Music Group in December, The ByteDance-owned video app revealed today (February 8) that it has struck an “expanded” global licensing agreement with Universal Music Group.
Coincidentally, the timing of the announcement comes just days after UMG pulled its catalog from TikTok’s biggest rival, Triller, with Universal accusing that platform of withholding payments to UMG artists.
According to a statement, the new global agreement between UMG and TikTok “delivers equitable compensation for recording artists and songwriters and significantly expands and enhances the companies’ existing relationship”.
Marc Cimino, Chief Operating Officer of UMPG, said: “This alliance sets an industrywide example of social media companies acknowledging, respecting and compensating the music creators whose songs are instrumental to their platforms. We appreciate Tik Tok’s partnership and look forward to working together to provide support and opportunities to our songwriters.”
See the full story here: https://www.musicbusinessworldwide.com/tiktok-and-universal-music-group-sign-global-licensing-deal/
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