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Universal Music and TikTok strike new licensing deal – including ‘improved remuneration’ for UMG artists and songwriters

Universal Music and TikTok strike new licensing deal – including ‘improved remuneration’ for UMG artists and songwriters

Universal Music Group and TikTok have struck what they call “a new multi-dimensional licensing agreement”.

According to a joint press release issued today (May 2), the deal “will deliver significant industry-leading benefits for UMG’s global family of artists, songwriters and labels and will return their music to TikTok’s billion-plus global community”.

UMG and TikTok say that they “are now working expeditiously” to return music by artists represented by Universal Music Group and songwriters represented by Universal Music Publishing Group to TikTok “in due course”.

MBW understands that Universal’s catalog of ~4 million songs and ~3 million recordings will be available on TikTok within one-to-two weeks, at which stage, all videos that had previously been muted will be unmuted.

Sir Lucian Grainge, Chairman and CEO, Universal Music Group, said: “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.

“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.”

Credit: Sthanlee B. Mirador/Sipa USA/Alamy

“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.”

Sir Lucian Grainge, Universal Music Group

Shou Chew, CEO of TikTok, added: “Music is an integral part of the TikTok ecosystem and we are pleased to have found a path forward with Universal Music Group.

“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.”

The announcement brings to an end a long-running licensing dispute between the two companies.

TikTok’s falling out with Universal Music Group came to light at the end of January, when UMG announced that its agreement with TikTok was set to expire on January 31, 2024.

UMG confirmed that the companies had not agreed to terms for a new deal, and upon expiration of their agreement, UMG, including Universal Music Publishing Group, would “cease licensing content” to TikTok and TikTok Music services.

Alongside the announcement, Universal published an ‘open letter to the artist and songwriter community’, in which it details the reasons why…

Click Here to Read the Full Original Article at Music Business Worldwide…