Universal Music Group Agreement with TikTok to Expire on January 31, 2024
SANTA MONICA, Calif., and HILVERSUM, The Netherlands, Jan. 30, 2024 /PRNewswire/ -- Universal Music Group N.V. (EURONEXT: UMG) announces today that its agreement with TikTok is set to expire on January 31, 2024.
The companies have not agreed to terms for a new agreement and upon expiration of the current agreement, Universal Music Group, including Universal Music Publishing Group, will cease licensing content to TikTok and TikTok Music services.
For more information, please see our "Open Letter to the Artist and Songwriter Community" here.
About Universal Music Group
At Universal Music Group, we exist to shape culture through the power of artistry. UMG is the world leader in music-based entertainment, with a broad array of businesses engaged in recorded music, music publishing, merchandising, and audiovisual content. Featuring the most comprehensive catalogue of recordings and songs across every musical genre, UMG identifies and develops artists and produces and distributes the most critically acclaimed and commercially successful music in the world. Committed to artistry, innovation, and entrepreneurship, UMG fosters the development of services, platforms, and business models in order to broaden artistic and commercial opportunities for our artists and create new experiences for fans. For more information, visit www.universalmusic.com.
Contacts
Investors
Erika Begun – investorrelations@umusic.com
Media
James Murtagh-Hopkins – communicationsnl@umusic.com
Cautionary Notice
This press release is published by Universal Music Group N.V. and contains inside information within the meaning of article 7(1) of Regulation (EU) No 596/2014 (Market Abuse Regulation).
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SOURCE Universal Music Group N.V.
