UMG and TikTok End Months-Long LIcensing Dispute
TikTok and Universal Music Group Settle Royalty Dispute With New Licensing Agreement https://t.co/Vyhpa5Ls3G
- Variety (@Variety) May 2, 2024
Universal Music Group and TikTok have reached a new licensing agreement, the companies announced, ending their 3 month-long dispute and bringing UMG’s catalog back to the short-form video platform.
This new chapter in our relationship with TikTok focuses on the value of music, the primacy of human artistry and the welfare of the creative community,” UMG CEO Lucian Grainge said in a statement. “We look forward to collaborating with the team at TikTok to further the interests of our artists and songwriters and drive innovation in fan engagement while advancing social music monetization.”
“Music is an integral part of the TikTok ecosystem and we are pleased to have found a path forward with Universal Music Group,” TikTok CEO Shou Chew said in a statement. “We are committed to working together to drive value, discovery and promotion for all of UMG’s amazing artists and songwriters, and deepen their ability to grow, connect and engage with the TikTok community.”
While the UMG debacle is settled, for now, TikTok has a much bigger battle as the Bytedance-owned platform faces a potential ban in the United States.
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