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UNIVERSAL SIGNS UP WITH LOMOTIF

Universal Music Group has signed a global licensing deal with Tik Tok rival Lomotif that will allow Lomotif’s users to tap into UMG’s catalog for their videos.

The Singapore-based Lomotif launched in 2018 and has 31m monthly active users in more than 200 countries. UMG is the first major to sign an agreement with Lomotif.

“We are very pleased that Lomotif’s fast-growing community of users around the world will be able to take inspiration from the artists and music they love, all while ensuring UMG’s artists are fairly compensated for the value music generates on Lomotif’s platform," Michael Nash, UMG’s Executive Vice President of Digital Strategy, said.

Paul Yang, Lomotif’s CEO and founder, said, “With nearly 800 million videos created to date, we are making high-value content, functionality and features available to our community will only help us grow exponentially.”

UMG has been particularly aggressive in the social video space in 2021, inking content deals with Tik Tok, Snap as well as reupping with Triller

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