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TikTok is about to find out if it can survive without Taylor Swift and Ice Spice

Jan 31, 2024 - businessinsider.com
Universal Music Group (UMG) has announced it may pull its artists' catalogs from TikTok due to a dispute over licensing fees and AI protections. UMG, which represents major artists such as Taylor Swift and Drake, claims TikTok pays a "fraction of the rate" other platforms do for licensing and has concerns about the platform's promotion of AI music. The current contract between UMG and TikTok expires on Wednesday, and no new agreement has been reached.

TikTok, which heavily relies on music for its user experience, could face significant impact if UMG withdraws its song catalog. In response to UMG's claims, TikTok accused the label of prioritizing "their own greed above the interests of their artists and songwriters." The platform also highlighted its successful 'artist-first' agreements with other labels and publishers. This comes as TikTok's CEO, Shou Zi Chew, is set to testify at a US Senate hearing about online child safety.

Key takeaways:

  • Universal Music Group (UMG) has announced it may pull its artists' catalogs from TikTok due to disagreements over compensation and AI protections.
  • UMG's contract with TikTok expires on Wednesday, and the label has accused the platform of paying a 'fraction of the rate' for licensing compared to other platforms.
  • If UMG pulls its music, it could be a significant blow to TikTok as the platform heavily relies on music for user experience. Artists under UMG include Drake, Olivia Rodrigo, Beyonce, and Taylor Swift.
  • TikTok CEO Shou Zi Chew is also facing a US Senate hearing about online child safety this week, adding to the platform's current challenges.
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