“Universal Music to remove its songs from TikTok”, Advertisement The Wall Street Journal. “The contract between Universal and the social networking app expires this Wednesday (January 31), and negotiations to renew it have not been successful,” Sum it up Financial Times.
New York Magazine Billboard, Lists artists whose songs have been influenced, specializing in the music industry. Lots of big names: Taylor Swift, Drake, BTS, but also Billie Eilish, Harry Styles, Ariana Grande, The Weeknd, Lady Gaga, Lana Del Rey and Sophie Ellis-Baxter – including the 2001 hit, Murder on the Dancefloor, Very popular on this platform, which is owned by the Chinese company ByteDance.
Critical Issues for Universal Music
On 30 January, in “An Open Letter to the Community of Artists and Songwriters”, Universal Music reported an impasse in negotiations, reports The Wall Street Journal. The reason, according to the American major: insufficient protection of artists against the abuses of artificial intelligence, but also the very low amount of royalties that TikTok wants to pay for the use of famous songs. Universal Music, J “Controls a third of the world’s music”, According to the formula of Financial Times, accuses the social network of playing the card of“intimidate” And, above all, to want “Building a business based on music without paying its fair price”.
In a press release, TikTok vindicated “It is sad and disappointing that Universal Music Group is putting its greed ahead of the interests of its artists.”
“Trying to secure a high-paying deal with TikTok is a key element for the music industry if it wants to continue its growth strategy,” Analyze The Wall Street Journal. With the streaming industry starting to show signs of weakening, it is becoming important for the sector to promote its catalog on social networks, video games or even certain applications, especially fitness, argues the American financial daily.
The Financial Times, For its part, recalls that in 2023 Warner Music, the third largest company in the world in this sector, was able to sign an agreement with the same TikTok.
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