Universal Music Group has signed a licensing deal with Singapore-based video sharing app and TikTok rival, Lomotif. As first reported by the Financial Times, UMG and Lomotif, which has been downloaded over 225 million times globally, have been negotiating a deal since 2016. Lomotif counts 31m MAUs (monthly active users) in 200 territories and 300m videos are being watched on its app each month.
Source: Universal Music Group inks licensing deal with TikTok rival Lomotif