Is the music business sleepwalking into a generational mistake in its deals with TikTok? According to Bloomberg, TikTok generated revenues approaching $4 billion globally in 2021. TikTok is expected to triple this figure to $12 billion in 2022. As a percentage of that total 2021 turnover, the amount TikTok is estimated to have paid recorded music rightsholders ($179m) therefore works out at4.5%.
Source: So… how much did TikTok actually pay the music industry from its $4bn in revenues last year?