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Universal Music Group (UMG) announced that it will stop providing licensed content to TikTok and the TikTok Music service. UMG’s agreement with TikTok expired on January 31 but has not yet been renewed.
UMG sent a letter to the community of artists and songwriters stating that it was pressuring TikTok to demand appropriate compensation in the contract renewal. A UMG spokesperson said that if an agreement with TikTok is not reached, all songs will be removed from the service after the agreement expires.
UMG accused TikTok of not paying the value of music fairly, saying that TikTok’s proposed payment scheme is only a fraction of what other major social platforms pay for. UMG says TikTok only accounts for about 1% of its total revenue. TikTok has not yet responded.
In February 2021, UMG struck a deal with TikTok to allow users to incorporate UMG music into their videos.
(Source: Reuters Image source: freepik)
