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  • ton = $7.28 0.10 (1.40 %)

31 Jan, 2024
1 min time to read

Universal Music Group (UMG), the label representing many renowned artists like Taylor Swift and Billie Eilish, has announced its decision to pull its music catalog from TikTok, effective midnight on January 31.

This move comes after unsuccessful negotiations with TikTok's parent company, ByteDance, regarding fair compensation for artists' music. UMG accuses TikTok of proposing inadequate payment rates and failing to swiftly address copyright violations.

TikTok responds, calling UMG's actions "greedy" and emphasizing its role as a platform supporting artists' promotion and discovery.

The split comes amid TikTok's increasing focus on music creation and curation, positioning TikTok Music as a competitor to services like Spotify and Apple Music.