Earlier this week, Universal Music Group threatened to pull its artists' music from TikTok due to a contract dispute. They shared an open letter with the platform yesterday, citing issues they wanted to address with a new deal. The issues include fair compensation for artists, "protecting human artists from the harmful effects of AI," and more.
"TikTok proposed paying our artists and songwriters at a rate that is a fraction of the rate that similarly situated major social platforms pay. Today, as an indication of how little TikTok compensates artists and songwriters, despite its massive and growing user base, rapidly rising advertising revenue and increasing reliance on music-based content, TikTok accounts for only about 1% of our total revenue," they wrote.
Read More: UMG Threatens To Pull Music From TikTok Over Contract Dispute
TikTok Issues A Statement
They failed to reach an agreement. This means that tracks from the likes of Taylor Swift, SZA, Billie Eilish, and more will be pulled from TikTok. The platform recently shared a statement in response to this latest development, accusing UMG of being greedy. According to them, TikTok provides UMG artists with free promotion, and the company has decided to put their needs above those of them and their fans.
"It is sad and disappointing that Universal Music Group has put their own greed above the interests of their artists and songwriters," the statement begins. "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." What do you think of Universal Music Group announcing plans to pull its artists' music from TikTok? What about TikTok's recent response? Share your thoughts in the comments section down below, and keep an eye on HNHH for more updates.
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