TikTok And Universal Music Group Forge Licensing Partnership
Portfolio Pulse from Shivani Kumaresan
Universal Music Group NV (UMGNF) and TikTok have entered into a new licensing agreement, aiming to enhance benefits for Universal's artists, songwriters, and labels through TikTok's global platform. The partnership focuses on improved remuneration, promotional opportunities, and AI protections for Universal's music catalog. This strategic collaboration is designed to leverage TikTok's technology and e-commerce capabilities for monetization, while also addressing unauthorized AI-generated music.
May 02, 2024 | 3:34 pm
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Universal Music Group NV's new licensing agreement with TikTok is expected to positively impact its artists and songwriters through better remuneration and promotional opportunities, leveraging TikTok's vast user base and e-commerce capabilities.
The agreement directly involves UMGNF, aiming to improve financial and promotional outcomes for its artists and songwriters by utilizing TikTok's extensive reach and technological capabilities. This strategic partnership is likely to enhance UMGNF's position in the digital music landscape, potentially leading to increased revenue streams and market visibility.
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