The ongoing dispute between TikTok and Universal Music Group (UMG) has taken center stage in the music industry. It’s not just about the songs of popular artists like Taylor Swift and Billie Eilish possibly disappearing from TikTok; it’s a larger conversation about the value of music in the digital age.
Popular artists such as Taylor Swift and Billie Eilish can disappear from TikTok
ByteDance, TikTok’s parent company, has accused UMG of prioritizing profit over the interests of artists and songwriters. TikTok argues that UMG is missing out on the promotional benefits offered by its billion-user platform, which serves as a key discovery tool for new talent.
The heart of the matter lies in compensation. UMG claims TikTok’s offer for their new deal is significantly lower than fair market value, highlighting that TikTok’s massive user base and rising ad revenues don’t translate to adequate returns for music creators. UMG emphasizes that despite TikTok’s popularity, it contributes a mere 1% to their total revenue.
The timing couldn’t be more critical, as the existing licensing deal is set to expire soon. TikTok prides itself on having reached favorable agreements with other labels and publishers, but this standoff with UMG could change the dynamics.
Adding another layer to the dispute is the role of artificial intelligence (AI) on TikTok. UMG is concerned about the increasing use of AI-generated content on the platform, suggesting it could dilute the royalties for human artists. TikTok dismisses these claims, defending its use of AI as an enhancement to user experience, not a replacement for artists.
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(Via)
