The music company explains that they were unable to reach an agreement with the social media giant.
There is a thick atmosphere between the Universal Music Group and the social media platform TikTok. As the US “Rolling Stone” reports, among others, the music giant is threatening to revoke the licenses for music use of the popular Chinese short video platform.
According to the report, Universal Music Group stated that it had failed to reach an agreement with TikTok on new contractual terms. The new regulations should primarily deal with artificial intelligence. “The companies have not agreed to the terms of a new agreement and upon expiration of the current agreement, Universal Music Group, including Universal Music Publishing Group, will stop licensing content to TikTok and TikTok Music Services,” Universal Music states Group in a statement.
Tiktok is “sad and disappointed”
TikTok, which is owned by the Chinese company ByteDance, responded with a statement and accused the company of greed. “It is sad and disappointing that Universal Music Group has put its own greed above the interests of its artists and songwriters. “Despite Universal’s misrepresentation and rhetoric, the fact is that they have chosen to forego the powerful support of a platform with well over a billion users that serves as a free promotional and discovery tool for their talent,” it said . “TikTok has been able to strike artist-first deals with every other label and publisher. “Universal’s self-serving actions are clear,” TikTok continued.
Universal Music Group is the largest major label in the world. Their huge roster of artists includes Taylor Swift, The Weeknd, Olivia Rodrigo, Drake, U2, Elton John, Billie Eilish, Coldplay, Post Malone, Sting, Bob Dylan and many more. If Universal Music Group follows through on its threat, it would undoubtedly be a major nuisance for the video platform.