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)
The deal is the latest in a string of acquisitions for the Bertelsmann and RTL Group-owned Fremantle, which has been expanding aggressively in scripted in the last year. The acquisition of 72 Films is a major coup in the non-scripted arena for the company considering the production company’s excellent track record of documentary hits.
YouTube has surpassed the milestone of80 million paid YouTube Music and Premium subscribers worldwide. That subscriber figure, which YouTube says includes triallists, marks a 30 million(or 60%), increase on the last subscriber figure to be publicly announced for YouTube Music, which was 50 million, just 13 months ago.
In a company-wide memo that was all posted on the company’s public pages, Zuckerberg blamed the pandemic, saying that the digital growth and “surge of e-commerce” experienced during the early days of COVID-19 — when lockdowns meant people were stuck at home — seemed as though it would become a “permanent acceleration that would continue even after the pandemic ended.”
