At a time when TikTok has been banned in one of the most important markets, India, and is facing the same issue in the United States, the short video social media platform has announced its first music partnership.
The ByteDance-owned company has announced a music distribution partnership with indie music distributor UnitedMasters. It will now allow artists on TikTok to tap into the platform and then distribute songs directly to other music streaming services.
This new deal seems to be a good easy-to-reach strategy for indie artists who can now circumvent traditional record labels to reach young music fans on the social video app. TikTok says that the platform has already helped several artists to further growth, including Lil Nas X, Ambjaay, StaySolidRocky, Powfu, BENEE, Y2K, bbno$ and others.
UnitedMasters, on the other hand, has grown its lineup to over 400,000 artists in the past 18 months, with a combined 5 billion streams and over a half-million distributed tracks. The company takes a 10 percent share of the revenue for music it distributes and allows artists to retain their rights.
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Another interesting development in the on-going TikTok-relate circus in the United States is the entry of a new player for the acquisition talks. While Microsoft is already in talks with ByteDance for the acquisition of TikTok’s business in the United States, Oracle has now also joined the list of companies interested to acquire stake.
As per the report, the software giant has already held preliminary talks with TikTok’s parent company ByteDance and is also working with venture capital firms including General Atlantic and Sequoia Capital.
It is being said that Oracle is “seriously considering” to acquire TikTok’s business in the United States, Canada, Australia, and New Zealand. The development comes at a time when Donald Trump has signed an executive order ordering TikTok to sell its U.S. business within 90 days.
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