Common Music Group, which represents megastars corresponding to Taylor Swift, Unhealthy Bunny and Drake, is warning it would pull its songs from TikTok after failing to comply with new licensing phrases.
In a short assertion late Tuesday, UMG mentioned it “will stop licensing content material to TikTok and TikTok Music providers” after the present contract expires Wednesday.
In an open letter to artists and songwriters, UMG claimed TikTok “is making an attempt to construct a music-based enterprise, with out paying truthful worth for the music.”
TikTok didn’t instantly reply to a request for remark.
The massively fashionable video-sharing platform, owned by China-based Bytedance, is a large influencer within the music world and UMG mentioned its evaluation discovered “a majority of content material on TikTok” comprises music, extra so than different social networks.
UMG, which is likely one of the world’s largest music corporations, mentioned within the letter that it has been unable to achieve an settlement with TikTok over three key points: compensation for artists, defending human artists from the “dangerous results” of AI, and on-line security of TikTok’s customers.
“TikTok proposed paying our artists and songwriters at a fee that’s a fraction of the speed that equally located main social platforms pay,” UMG mentioned, including that TikTok “is permitting the platform to be flooded with AI-generated recordings … in a transfer that’s nothing in need of sponsoring artist alternative by AI.”
UMG mentioned TikTok was detached to its issues, and tried to “bully” the corporate into accepting a deal value lower than the present one.
Different UMG artists embrace Ariana Grande, Billie Eilish, Kendrick Lamar, Harry Types, U2, Pearl Jam, Justin Bieber, Adele, Elton John and Bob Dylan.
UMG’s Amsterdam-listed shares
UMG,
have risen about 18% over the previous 12 months.