Music from artists such as Taylor Swift, Harry Styles and the Weeknd could be pulled from TikTok after talks to renew the agreement between Universal Music Group (UMG) and the social media platform broke down.
The talks stalled after a disagreement regarding the fees paid to artists and songwriters, with Universal Music Group accusing TikTok of not paying the enough for the use of its music.
A scathing open letter from Universal states that the social media company is "trying to build a music-based business, without paying fair value for the music".
Our core mission is simple: to help our artists & songwriters attain their greatest creative and commercial potential, which is why we must call time out on TikTok.
— Universal Music Group (@UMG) January 31, 2024
Learn More: https://t.co/yJDQ7FdgNc pic.twitter.com/Lhluz1ez5H
The letter also accused TikTok of trying to “bully” and “intimidate” them into accepting a deal worth “far less than fair market value”.
The video-sharing app is owned by Chinese company ByteDance and allows users to upload clips with licensed music. Universal Music Group’s extensive roster of artists includes Ariana Grande, Justin Bieber, Adele, Coldplay, The Beatles and more.
If an agreement cannot be reached all of the songs will be removed by Wednesday, a UMG spokesperson confirmed to Reuters.
Tiktok, in a statement to Reuters, referred to UMG's narrative as "false" and said UMG's actions were not in the best interests of artists, songwriters and fans.
TikTok accounts for only about 1 per cent of UMG's total revenue, the music label said.
The company had reached a deal with social media platform TikTok in February 2021, which allowed users on the app to be able to incorporate clips from UMG's music catalog on their videos.