Social media platform TikTok recently announced licensing agreements with Sony Music, Warner Music Group, and now Universal Music Group-- three major record companies.
The announcement of this new deal came out soon after UMG removed its catalog from TikTok's competitor platform, Triller, on the grounds that payment to UMG artists had been withheld.
UMG's new licensing agreement with TikTok ensures "equitable compensation for recording artists and songwriters and significantly expands and enhances the companies’ existing relationship.” Along with music from artists and songwriters at UMG and Universal Music Publishing Group, both the social media platform and record company have agreed to "experiment with exciting new features." One such feature is access to UMG's complete catalog of artists.
It's no secret that TikTok has allowed many artists new visibility and contributed to the success of many chart-topping hits recently; over 70 artists on the platform were signed to major record labels in 2020.
Global Head of Music for TikTok Ole Obermann shared: "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." He continued, “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.”