Under the new agreement, Warner Music artists and songwriters will also have access to TikTok’s brand partners such as World Wrestling Entertainment (WWE) and new monetization features such as merchandising, ticketing and digital merchandise.
The agreement licenses the collection of Warner Recorded Music and Warner Chappell Music to TikTok, TikTok Music, the app’s premium streaming service, video editor CapCut, and TikTok’s commercial music library.
What is TikTok Music?
This is a service that is currently only available in Brazil and Indonesia. Being a fledgling service, record companies are looking for more favorable deals with TikTok to earn a hefty amount of revenue from this app.
According to a press release, the agreement will “expand the level of partnership, collaboration and innovation between the two companies,” as well as seek to create new “revenue, marketing and recognition opportunities for WMG artists, while deepening Engagement with TikTok’s huge audience.”
Robert Kyncl, CEO of WGM and former CEO of YouTube, noted that this expanded partnership for both companies can deliver “greater value to artists and songwriters.”
(With information from Reuters)
