What's happened
TikTok and Universal Music Group have resolved their dispute over royalties, allowing artists like Taylor Swift and Drake to return to the platform. The new licensing agreement includes improved remuneration for artists and protections against generative AI.
Why it matters
The resolution of the dispute between TikTok and Universal Music Group is significant as it allows popular artists to return to the platform, impacting both the music industry and social media landscape. The improved remuneration for artists addresses long-standing concerns over fair compensation.
What the papers say
According to Business Insider UK, TikTok and Universal Music Group have reached a new licensing agreement, allowing popular artists like Drake and Olivia Rodrigo to return to the platform. The New York Times reports that the deal includes improved remuneration for Universal's artists and songwriters, addressing concerns over AI-generated content. The Guardian highlights the importance of the agreement, which will see songs from artists like Olivia Rodrigo and Drake returning to TikTok.
How we got here
The dispute between TikTok and Universal Music Group arose over issues such as royalties, AI-generated music, and online safety for users. Universal had pulled its artists' music from TikTok in January after the two sides failed to reach a new deal. The new agreement signifies a positive step forward in their relationship, ensuring the return of popular artists to the platform.
Common question
More on these topics
-
TikTok/Douyin is a Chinese video-sharing social networking service owned by ByteDance, a Beijing-based Internet technology company founded in 2012 by Zhang Yiming.
-
Universal Music Group is an American global music corporation that is majority owned by the French media conglomerate Vivendi, with Chinese tech company Tencent owning a minority stake.
-
Taylor Alison Swift is an American singer-songwriter. Her narrative songwriting, which often centers around her personal life, has received widespread media coverage.
-
Spotify is a Swedish music streaming and media services provider. It is operated by Spotify AB, which is publicly traded in the NYSE through Luxembourg-domiciled holding company Spotify Technology S.A., itself a constituent of the Russell 1000 Index.