Following the announcement by Universal Music Group (UMG) that its contract with the platform has not been renewed, millions of songs are set to be removed from TikTok.
Daily Mail claims that tracks by incredibly popular artists like Drake, Taylor Swift, and The Weeknd won’t be available as a result of the change.
TikTok called the decision “sad and disappointing” and said that UMG “put their own greed above the interests of their artists and songwriters.”
UMG said in a statement to its community of songwriters and artists that it has been putting pressure on TikTok to offer reasonable compensation to songwriters and artists during contract renewal negotiations.
“If UMG fails to reach an agreement with TikTok, all of its songs will be removed from the service once the deal expires on Wednesday,” stated a spokeswoman for UMG.
UMG accused TikTok in its letter of “trying to build a music-based business, without paying fair value for the music.”
TikTok proposed paying musicians and composers at a “fraction of the rate” that other big social media businesses in similar circumstances paid, according to UMG.
In response, TikTok stated: “It is sad and disappointing that Universal Music Group has put their own greed above the interests of their artists and songwriters.”
“The truth is that Universal has decided to walk away from the potent support of a platform with well-established credibility, despite their deceptive narrative and rhetoric.”
