According to “”, the American company Universal Music Group failed to agree on new terms of the contract with the Chinese platform for further licensing of music from this label for the application. Universal believes TikTok pays a paltry rate compared to other social media sites that also benefit from the labels’ extensive catalog.
Will this be a breakthrough? TikTok users will lose access to many popular songs
TikTok is used by over a billion users, but the royalties paid by the company are said to be only 1%. total revenues of the production company. The authorities of the Chinese application did not want to change the terms of cooperation, and according to “Variety”, TikTok tried to “intimidate” Universal with a contract that is even less favorable and worth less than the one lasting until January 31, 2024.
That’s why the American music company decided to stop licensing its content to the app and sent an open letter “to the community of artists and songwriters.” They write that the parties have not reached an agreement on appropriate remuneration for artists and songwriters, concerns about the impact of artificial intelligence and security issues for platform users.
In other words, TikTok wants to create a business based on music, but does not want to pay fairly for it, we read in the letter.
As a result, songs released by the label, which controls approximately one third of the world’s music, will no longer be available on the popular platform from February 1, 2024. Universal artists include: Taylor Swift, Bad Bunny, Sting, The Weeknd, Alicia Keys, SZA, Drake, Billie Eilish, Kendrick Lamar, Rosalía, Harry Styles, Ariana Grande, Justin Bieber, Adele, U2, Elton John and Bob Dylan.
In turn, the heads of the application owned by the Chinese company ByteDance accuse Universal of using a “false narrative”. They said it was sad and disappointing that Universal Music Group “put its own greed above the interests of its artists and songwriters.” TikTok representatives also said they had reached a consensus with other labels, concluding an “artist first” deal.
Source: Gazeta
Bruce is a talented author and journalist with a passion for entertainment . He currently works as a writer at the 247 News Agency, where he has established himself as a respected voice in the industry.
