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Universal Music Group (EURONEXT:UMG) (UMG) is facing potential shareholder backlash at its upcoming AGM, prompted by advisory firm Glass Lewis's recommendation to reject a £119 million payout for CEO Lucian Grainge. The payout includes a £79 million share-based bonus, intended to compensate for a salary reduction and loss in share value following UMG's spin-off from Vivendi in 2021.
Universal Music Group on Thursday posted first-quarter adjusted core profit that beat expectations, helped by the success of its star Taylor Swift.
Universal and TikTok said they were working "expeditiously" to return music by the label's artists to TikTok.
Artists from Universal Music Group, which include Taylor Swift, Drake, Adele, Bad Bunny and Billie Eilish, will be returning to TikTok as the two parties have struck a new licensing agreement following an approximately three-month long dispute.
Taylor Swift, Drake and Olivia Rodrigo's songs are set to return to TikTok after the video-sharing platform reached a new agreement with Universal Music Group (EURONEXT:UMG). Songs by the music company's 1,000-plus artists had begun disappearing from TikTok in early February, as the duo's existing licensing deal expired.
TikTok and Universal Music Group struck a new licensing deal that will return the record label's artists and their songs to the popular video-sharing app, ending months of disagreements over pay.
In a statement Thursday, UMG said the new licensing deal would lead to the return of its artists' music to TikTok.
Universal Music Group and TikTok said on Thursday that they had reached a new licensing agreement that will restore the label's songs and artists to the social media platform.
More than two months after Universal Music Group removed music from its artists—including Taylor Swift, Bad Bunny and Ariana Grande—off of the TikTok music library because of an ongoing dispute, some of Swift's songs mysteriously reappeared on the app.
Taylor Swift's music is back on TikTok, even as the Chinese short-video app and singer's record label Universal Music are at loggerheads, the Financial Times reported on Thursday.