Universal Music Group (UMG), one of the world’s leading music entertainment companies, and TikTokhave reached an agreement on the payment of rights that would allow songs by artists like Lady Gaga or Taylor Swift can be heard again on that social network. In a statement, UMG has announced this new “multidimensional license agreement that will provide important benefits” to both companies and “will bring their music back to TikTok’s billion-plus global community.”
The two companies had been at odds over royalties paid by TikTok to the American multinational and UMG last January withdrew the license so that its artists’ music could appear on this platform. UMG even published an open letter in which it accused TikTok, based in Shanghai, China, of “trying to build a business based on music, without paying a fair value for it“. In a statement, the music industry giant then announced that it was ready to withdraw the platform’s access to the songs of its artists, including superstars such as Taylor Swift, Bad Bunny or Rosalíaas of January 31, which was when the contract with TikTok expired.
The agreement announced now marks “a new era of strategic collaboration between the two organizations, based on a shared commitment to helping UMG artists and songwriters achieve their creative and commercial potential,” the note notes. Lucian Grainge, president and CEO of Universal Music Group, maintains that “This new chapter in our relationship with TikTok focuses on the value of musicthe primacy of human art and the well-being of the creative community.”
“We look forward to collaborating with the TikTok team to promote the interests of our artists and songwriters and drive innovation in fan engagement as we advance social music monetization,” he adds. In this way, “TikTok fans can look forward to the return of UMG’s recorded music and publishing catalogs and once “more enjoy creating videos using music from some of the world’s biggest artists and composers, as well as exciting emerging talent.” UMG owns the rights to musical themes by legendary and current artists from The Beatles, Bob Dylan, Elton John or Justin Bieber, Adele, Coldplay, Bad Bunny or Rosalía.
Source: Lasexta
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