WARNER, TIKTOK AGREE TO NEW LICENSING DEAL
According to Bloomberg, Warner Music Group has secured a new licensing deal with TikTok. Unlike TikTok's previously announced short-term deals with the majors, the new pact covers recordings and publishing.
It shouldn't be a surprise that WMG is first among the majors to agree to new terms with ByteDance's TikTok; former WMG executives Ole Obermann and Tracy Gardner recently joined TikTok to oversee global music development.
Gardner's role at WMG was SVP, Global Business Development & Strategy. She now holds the title of Head of Label Licensing & Partnerships at TikTok. At WMG she reported to Obermann, who was Chief Digital Officer and EVP, Global Biz Dev & Strategy. He's now TikTok's Global Head of Music.
Warner Music's stock began to surge on Thursday following a recommendation by Morgan Stanley, as it forecasts major growth in the music sector from new revenue streams like TikTok, Peleton and gaming.
Meanwhile, just yesterday (12/18), Tencent acquired an additional 10% equity in UMG. In related news, Spotify's stock continues to thrive.
VMAs BEAMING BACK
TO THE BIG APPLE Getting back to where they once belonged (4/24a)
THE COUNT: ALL THE DESERT'S A STAGE
Jon Wayne is rolling over in his grave. (4/24a)
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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A CHORUS OF PRAISE: IVORS 2024 NOMS
