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Universal Music Group (EURONEXT:UMG), Sony Music and Warner Records have sued artificial intelligence-power music generation startups for infringing copyright of various recording artists. The Recording Industry Association of America said overnight that two lawsuits had been filed against AI companies Suno and Udio for copying and exploiting recorded music without permission.
HILVERSUM, The Netherlands , May 16, 2024 /PRNewswire/ -- Universal Music Group N.V. ("UMG" or "the Company") today announced the results of its Annual General Meeting of Shareholders ("AGM") held earlier today.
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.