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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.
Universal Music Group on Wednesday said its unit in Greater China has entered a global digital distribution partnership with Chinese entertainment company TF Entertainment.
As its public dispute with TikTok continues, Universal Music Group has set an expanded strategic relationship with Spotify. The new agreement will “further amplify music discovery and social interaction and enhance fan experiences,” the companies said in a joint announcement.
Universal Music Group (EURONEXT:UMG) can mostly recover lost revenue from TikTok by selling additional products and services to the social media platform's competitors, analysts at UBS believe. Since early February, the music group has been making TikTok remove songs written or co-written by artists signed to UMG from the social media platform after the two companies did not renew their music licensing agreement.
Universal Music Group N.V. (UMGNF) Q4 2023 Earnings Call Transcript