Universal Music Group plans to cease licensing content to TikTok, Variety says

Universal Music Group plans to cease licensing content to TikTok after their agreement expires on January 31, saying they failed to reach new licensing terms, Variety’s Todd Spangler reports. In response to UMG, TikTok said in a statement, “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. TikTok has been able to reach ‘artist-first’ agreements with every other label and publisher. Clearly, Universal’s self-serving actions are not in the best interests of artists, songwriters and fans.”