Universal Music Group and TikTok are back in business.
A joint statement by the two companies says they've reached an agreement that will put music from Universal's artists back on the platform.
TikTok has promised to deliver improved remuneration for Universal's songwriters and artists, while implementing protections to combat generative AI.
Universal and TikTok are now working to return music by artists represented by Universal Music Group and songwriters represented by Universal Music Publishing Group back to TikTok.
Universal announced it was pulling music from the platform in January after accusing TikTok of "bully" tactics and "intimidation" during negotiations.
Universal said in an open letter at the time that "TikTok is trying to build a music-based business, without paying fair value for the music".
TikTok hit back at the time saying: "It is sad and disappointing that Universal Music Group has put their own greed above the interests of their artists and songwriters".
The record label also said TikTok, which is owned by Chinese company ByteDance, had allowed the platform to be flooded with AI-generated recordings.
Universal Music's roster of big-name artists includes Taylor Swift, Bad Bunny, Drake, Lady Gaga, Post Malone, Ariana Grande, The Beatles, Sam Smith, Kendrick Lamar and Billie Eilish.
Australian artists include Tame Impala, Hilltop Hoods, Matt Corby, Avalanches, Baker Boy and Barkaa.
Swift's music returned to TikTok as she was promoting her new album and while the two companies were still at loggerheads because unlike many other artists, Swift owns the copyright to her recordings that lets her control where her music is made available.
In a statement, the chairman and CEO of Universal Music Group, Sir Lucian Grainge said the agreement marked a new chapter.
"This new chapter in our relationship with TikTok focuses on the value of music, the primacy of human artistry and the welfare of the creative community," he said.
"We look forward to collaborating with the team at TikTok to further the interests of our artists and songwriters and drive innovation in fan engagement while advancing social music monetisation."
The CEO of TikTok Shou Chew acknowledged that music is a fundamental part of TikTok's business model.
"Music is an integral part of the TikTok ecosystem and we are pleased to have found a path forward with Universal Music Group," Chew said.
"We are committed to working together to drive value, discovery and promotion for all of UMG's amazing artists and songwriters, and deepen their ability to grow, connect and engage with the TikTok community."
TikTok's global head of Music Business Development Ole Obermann was thrilled.
"We are delighted to welcome UMG and UMPG back to TikTok.
"We look forward to working together to forge a path that creates deeper connections between artists, creators, and fans.
"In particular, we will work together to make sure that AI tools are developed responsibly to enable a new era of musical creativity and fan engagement while protecting human creativity."
The chief digital officer and EVP, Universal Music Group Michael Nash said there's great potential in the collaboration.
"Developing transformational partnerships with important innovators is critical to UMG's commitment to promoting an environment in which artists and songwriters prosper.
"We're gratified to renew our relationship with TikTok predicated on significant advancements in commercial and marketing opportunities as well as protections provided to our industry-leading roster on their platform.
"With the constantly evolving ways that social interaction, fan engagement, music discovery and artistic ingenuity converge on TikTok, we see great potential in our collaboration going forward."
Meanwhile, the US President Joe Biden has signed legislation banning TikTok unless ByteDance sells the app to an approved buyer.
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2024-05-03 02:22:07Z
CBMiV2h0dHBzOi8vd3d3LmFiYy5uZXQuYXUvbmV3cy8yMDI0LTA1LTAzL3VuaXZlcnNhbC1tdXNpYy10aWt0b2stcmVhY2gtYWdyZWVtZW50LzEwMzgwMDYyNtIBAA
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