According to a new Bloomberg report, the three majors, Warner Music Group, Sony Music Entertainment and Universal Music Group, are currently negotiating new deals with TikTok, and they’re asking for a share of advertising revenues generated on the platform. In July, the major record companies struck so-called ‘buy-out’ agreements with TikTok, which see the platform pay a lump sum to use licensed music across its service from a major’s catalog for two-year periods.
Source: Labels asking TikTok for share of ad revenue in new deal talks (report)