Wednesday, January 31, 2024
Millions of songs are scheduled to be taken down from TikTok following the disclosure by Universal Music Group (UMG) that its contract with the platform has not been renewed.
Due to the modification, songs by extremely well-known musicians like Drake, Taylor Swift, and The Weeknd won't be accessible, according to Daily Mail.
The announcement was described as "sad and disappointing" by TikTok, which also asserts that UMG "put their own greed above the interests of their artists and songwriters."
In a statement to its artist and songwriter community, UMG stated that, among other things, it has been pressuring TikTok to provide fair artist and composer compensation in their contract renewal talks.
"If UMG fails to reach an agreement with TikTok, all of its songs will be removed from the service once the deal expires on Wednesday," a UMG spokesperson said.
In its letter, UMG accused TikTok of "trying to build a music-based business, without paying fair value for the music."
According to UMG, TikTok suggested paying songwriters and musicians at a "fraction of the rate" that other large social media companies in the same situation pay.
In response, TikTok said: "It is sad and disappointing that Universal Music Group has put their own greed above the interests of their artists and songwriters."
"Despite Universal's false narrative and rhetoric, the fact is they have chosen to walk away from the powerful support of a platform with well over a billion users that serves as a free promotional and discovery vehicle for their talent," added the company.