TikTok has recently signed a licencing deal with Warner Music Group, marking the popular social media platform’s second large licence deal in the last few months. Back in November of 2020, TikTok had agreed to another major licence agreement with Sony Music Entertainment in order to make the songs from major influential artists around the globe more widely available to the users of TikTok.
The news of TikTok’s deal with WMG means that the company only has one major label deal left to secure (publicly, at least): Universal Music Group.
WMG Chief Executive Officer Steve Cooper told analysts in November that, “With an expanding number of partnerships including Facebook, TikTok, and Snap, among others, social media is already a meaningful nine-figure revenue stream for us and is growing at a faster rate than subscription streaming”.
TikTok published its first ever US Music Report in December, in which it claimed that in the past year alone, over 70 artists that have broken on the platform have signed major label deals.
