Songs from artists like Taylor Swift, Lady Gaga, and Drake might be disappearing from TikTok today.
Universal Music Group says it will pull its song catalog today after failing to come to a fair licensing deal with TikTok in regards to artists’ pay, protecting artists from A.I., and online safety for users. They even posted an open letter.
Quote, “TikTok proposed paying our artists and songwriters at a rate that is a fraction of the rate that similarly situated major social platforms pay. Ultimately TikTok is trying to build a music-based business, without paying fair value for the music.”
Universal also added that TikTok currently accounts for about 1% of revenue.
(You can see other artists signed with Universal Music Group here.)