Universal Music and TikTok have ended a dispute over royalties after the label pulled millions of songs from the social media platform.
The new licensing agreement means songs by some of the biggest artists in the world will return to the site for use within the next two weeks.
TikTok, a short video app, is a valuable marketing and promotional tool for music stars. But in January, Universal claimed it paid artists and songwriters “a fraction” of the rate offered by similar social media platforms, and announced it was pulling its catalogue.
The companies now say they have come to “a new multi-dimensional” licensing agreement that will deliver “significant industry-leading benefits” for Universal’s artists and labels.
In a joint statement, TikTok said it would continue to invest resources into “building artist-centric tools” and work on strengthening online safety protections for artists and their fans.
-sky news
