TiktokEntertainment Licensing Music Music Licensing Top News 

TikTok Cracks Multi-year Licensing Deal Despite Looming Shutdown Threats

TikTok has entered into a multi-year licensing deal with Dutch collecting society Buma/Stemra. This joint announcement emphasized the short-form video-sharing app’s considerable popularity in Europe particularly among some of Buma/Stemra’s approximately 28,000 members including Martin Garrix and Tiësto.

TikTok Cracks Multi-year Licensing Deal Despite Looming Shutdown Threats

Additionally, the text noted that TikTok intends to work with the Society’s members in an effort “to deepen understanding of the platform and the opportunities it presents.” Financial terms of the deal weren’t declared but Buma/Sterma CEO Bernard
Kobes described the corresponding negotiations as “intense but constructive,” besides touting the service’s potential as a music-discovery tool.

As mentioned, the controversial app is facing an uncertain future in the United States (a federal judge  issued  a temporary injunction on the ordered ban, but not ByteDance’s November 12th deadline to sell) and more broadly has encountered an array of obstacles to this point in 2020. Citing  privacy and national security concerns , the Indian government had banned TikTok in late June, Subsequently ByteDance has predicted that it would suffer a $6 billion loss. Just last week, Pakistan also banned TikTok with other countries potentially following suit.

More than a few competitors moved to fill the void in India with Triller and JioSaavn India’s biggest music streaming app, finalizing a strategic partnership. July saw Triller file a  massive patent-infringement lawsuit  against TikTok whereas August brought with it the  abrupt resignation  of TikTok CEO Kevin Mayer who had been on the job for just three months.

On the agreement side, TikTok and Paris-based indie distributor Believe locked down  a global distribution and marketing deal  in July and in the same month, Sony/ATV seemed to signal confidence in the platform’s future by unveiling a sizeable partnership  with TikTok talent agency TalentX. The latter contract encompasses publishing services from Sony/ATV overarching career support from Sony Music and a collection of jointly owned recording studios.

The next month will likely prove critical to TikTok’s future, however. Company executives had earlier said that just a temporary U.S. freeze could result in a  90 per cent falloff in daily active users.

 

Sending
User Review
0 (0 votes)

Related posts

%d bloggers like this: