Common Music Group and TikTok have introduced a brand new “multi-dimensional licensing settlement” that may deliver to an finish a dispute over royalties that noticed music from UMG artists resembling Taylor Swift, Girl Gaga and Drake pulled from the social media platform.
Below the settlement, UMG says that its “international household of artists, songwriters and labels and can return their music” to TikTok.
The 2 firms have been in a months-long, and really public, standoff over the royalties TikTok paid to UMG’s artists, with the music big in the end pulling the music from its roster of artists on the finish of January. UMG even went as far as to releasing an open letter that accused TikTok of “making an attempt to construct a music-based enterprise, with out paying truthful worth for the music.”
Indicators of a rising détente between TikTok and UMG appeared in April, when it was revealed Taylor Swift’s music has returned to the platform forward of the artist’s launch of her double album The Tortured Poets Division.
Now the 2 firms have come to an settlement that may see the music by artists represented by UMG and songwriters represented by Common Music Publishing Group return to TikTok in “due course.”
Sir Lucian Grainge, chairman and CEO of Common Music Group, stated in a press release: “This new chapter in our relationship with TikTok focuses on the worth of music, the primacy of human artistry and the welfare of the artistic neighborhood. We stay up for collaborating with the staff at TikTok to additional the pursuits of our artists and songwriters and drive innovation in fan engagement whereas advancing social music monetization.”
“Music is an integral a part of the TikTok ecosystem and we’re happy to have discovered a path ahead with Common Music Group,” TikTok CEO Shou Chew added in a press release. “We’re dedicated to working collectively to drive worth, discovery and promotion for all of UMG’s wonderful artists and songwriters, and deepen their capability to develop, join and interact with the TikTok neighborhood.”