Music Business Worldwide report today…
TikTok is now fully licensed by all three major record companies.
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 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”.
The deal covers recorded music from artists at UMG’s labels and songwriters with Universal Music Publishing Group (UMPG). TikTok and UMG have additionally pledged “to experiment with exciting new features”.
As a result, TikTok users will now be able to incorporate clips from UMG’s full catalog of music.
Ole Obermann, Global Head of Music for TikTok, said: “We are excited to enter this new era with UMG and UMPG to continue supporting artists and songwriters, by working together to help reach music fans on TikTok.
“Our platform has been a driver in creating chart hits and licensing the world’s biggest catalog of tracks will continue to inspire our community.
“In turn, we are proud to partner with UMG and UMPG to be a source to help new talent emerge and to re-introduce legacy acts to a new audience.”
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