Friday, May 3, 2024

Universal Music Group Revenues Up 6%


Universal Music Group (UMG) reported strong financial results for the first quarter of 2024. Here are the key highlights:

Revenue Growth: UMG generated revenue of 2.59 billion euros (approximately $2.8 billion) in Q1 2024. This represents a 5.8% increase (or 7.9% at constant currency) compared to the same period in the previous year1.

Adjusted EBITDA Margin: The company’s adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) improved by 13.2%, reaching 591 million euros ($640 million). The adjusted EBITDA margin increased to 22.8%, up from 21.3% in Q1 20231.

Product Mix and Margin Improvement: UMG attributed the margin improvement to revenue growth and a change in product mix, specifically a decrease in physical sales. However, executives cautioned against reading too much into any single quarter and emphasized looking at longer-term trends1.

TikTok Licensing Deal: UMG recently announced a new licensing deal with TikTok. While specific details were not disclosed, executives stated that the deal provides fair value relative to other short-form video platforms. The agreement includes aspects of economic value beyond direct revenue, such as ad credits, data, and marketing programs1.

Recorded Music and Subscription Services: UMG’s recorded-music division saw growth, with recorded-music subscription revenue increasing by 10.7% to 1.12 billion euros ($1.2 billion). Subscription services continue to be a driving force for UMG, accounting for 43.3% of total company revenue. Subscriber growth remains a significant driver of year-over-year growth rates1.

Total Streaming Revenue: While total streaming revenue grew at a slower rate (8.9%), it reached 343 million euros ($371 million) in Q1 2024. UMG remains encouraged by improvements in ad-supported streaming but remains cautious about growth until consistent broad-based improvements are seen across all partners and geographies1.

Overall, UMG’s diverse revenue streams, including subscriptions and streaming, contribute to its continued success in the music industry

Concerts Drive Ticket Sales, Live Nation Revenue Beats Estimates


Ticketmaster parent Live Nation Entertainment beat estimates for first-quarter revenue on Thursday, driven by the popularity of live events such as concerts, sending its shares up more than 3% in aftermarket trading.

Reuters reports high ticket prices amid rising demand for live events, at a time when more performers are gearing up for concerts, have benefited companies such as Live Nation.

Revenue rose 21% to $3.80 billion for the first quarter ended March 31, beating estimates of $3.26 billion.

The total estimated events rose about 13% from a year earlier to 11,203, while total estimated fans stood at 22.9 million, compared with 18.9 million a year earlier.

Ticket sales reached an estimated total of about 155 million in the first quarter, compared with 145.5 million a year earlier.


The company's concert business comprising merchandise sales and the production of live music events generated $2.88 billion, making up the bulk of its overall revenue, followed by $723.2 million from ticketing.

The Beverly Hills, California-based company's loss per share in the reported quarter was 53 cents, compared with estimates for a loss of 18 cents per share.

Apple's Share Price Surges After Earnings Report


Apple’s share price experienced a significant surge Thursday following its impressive Q1 earnings announcement. Here are the key details:

Share Price Movement: On that particular day, Apple’s share price soared approximately 7%, reaching $170. This remarkable increase was driven by the news that Apple achieved a staggering $124 billion in revenue during Q1.

Pre-Market Trading: Prior to the market opening, Apple’s share price had already climbed nearly 5% during pre-market trading, opening strongly at $165.

Warren Buffet’s Holdings: The gain in Apple’s share price had a significant impact on Warren Buffet’s Berkshire Hathaway holdings, which grew in value by almost $10 billion in just one day. Berkshire Hathaway owns almost 888 million Apple shares, representing more than 5% of Apple’s total stock.

Earnings Highlights: During the Q1 earnings call, Apple reported a new all-time quarterly revenue record of nearly $124 billion. The company’s quarterly profit stood at $34.6 billion. Growth was observed across all product lines, including strong performance from the iPhone 13. However, iPad sales were impacted by supply constraints.

Dividend for Shareholders: Not only did shareholders witness portfolio growth, but they can also expect a handsome dividend of $0.22 per share.

Layoffs Reported At Allen Media Divisions


Byron Allen’s Allen Media Group has begun layoffs across every division of the company, which includes The Weather Channel, The Grio and Freestyle Digital Media, a rep for the company told TheWrap on Thursday.

Byron Allen
“Allen Media Group is making strategic changes to better position the company for growth that will result in expense and workforce reductions across all divisions of the company,” read the statement, dated Monday. That’s when cuts at TheGrio, a multi-platform media outlet catering to Black Americans, were first reported.

“Allen Media Group’s brands continue to perform well and in many areas our revenue growth has greatly outpaced the market. We are aligning these changes to drive future business opportunities and support our growth strategies in our rapidly evolving industry,” the statement, which was shared with TheWrap again on Thursday, concluded.

“The axe is falling at TheGrio,” an individual with knowledge of the situation told TheWrap on Monday. Managing editor Christy Oglesby and members of the podcast and video team were laid off, the individual said.

Allen, who founded his company in 1993, offered to buy Paramount Global for $14 billion in January. The deal would have included the assumption of Paramount Global’s debt, bringing the total cost to $30 billion.

What's Going On At ABC News?


ABC News President Kim Godwin reportedly is facing increasing scrutiny from Debra OConnell, who was appointed to oversee the news network earlier this year. OConnell has been evaluating the state of affairs at ABC News and has been less than impressed with what she has found1. In private conversations, OConnell has pointed to a slew of problems that have materialized on Godwin’s watch, faulting the embattled ABC News chief for her hands-off leadership style, which she believes has allowed problems to fester. 

When ABC News staffers phoned into the network's daily editorial meeting on Thursday, they quickly took note of the absence of their ostensible boss, President Kim Godwin. Hours after CNN reported about how Godwin is skating on thinning ice, the embattled news chief was nowhere to be found as staffers assembled to discuss the day's coverage plans.

Meruelo Media Appoints Pio Ferro SVP/Audio

 


Pio Ferro, a seasoned executive in the audio industry, has taken on the role of Senior Vice President (SVP) for Audio Brands at Meruelo Media. His appointment brings a wealth of experience and expertise to the company’s audio division.

Pio Ferro
As SVP for Audio Brands, Ferro will be responsible for overseeing the strategic direction and growth of Meruelo’s audio properties. This includes radio stations, podcasts, and other audio content. His leadership will play a crucial role in shaping the company’s brand identity and expanding its reach in the competitive media landscape.

Meruelo Media, a diversified media company, operates radio stations across various formats, including music, news, and talk. With Ferro’s leadership, the company aims to strengthen its position in the audio market and deliver compelling content to its audience.

Ferro’s track record in the industry makes him a valuable addition to Meruelo Media. His insights and vision will undoubtedly contribute to the company’s success as it continues to evolve in the dynamic world of audio entertainment.

Pio Ferro’s appointment as SVP for Audio Brands at Meruelo Media is an exciting development for the company. His expertise and strategic leadership will likely have a positive impact on the organization’s audio properties. If you have any further questions or need additional information, feel free to ask! 

Radio History: May 3


➦In 1904...Harry Lillis "Bing" Crosby born (some sources list May 2 – Died from heart attack October 14, 1977).

Bind Crosby
He was the first multimedia star, Crosby was a leader in record sales, radio ratings, and motion picture grosses from 1931 to 1954.  His early career coincided with recording innovations that allowed him to develop an intimate singing style that influenced many male singers who followed him, including Perry Como, Frank Sinatra, Dick Haymes, and Dean Martin. Yank magazine said that he was "the person who had done the most for the morale of overseas servicemen" during World War II.   In 1948, American polls declared him the "most admired man alive", ahead of Jackie Robinson and Pope Pius XII.  Also in 1948, Music Digest estimated that his recordings filled more than half of the 80,000 weekly hours allocated to recorded radio music.

Crosby won an Academy Award for Best Actor for his role as Father Chuck O'Malley in the 1944 motion picture Going My Way and was nominated for his reprise of the role in The Bells of St. Mary's opposite Ingrid Bergman the next year, becoming the first of six actors to be nominated twice for playing the same character. In 1963, Crosby received the first Grammy Global Achievement Award.  He is one of 33 people to have three stars on the Hollywood Walk of Fame, in the categories of motion pictures, radio, and audio recording.  He was also known for his collaborations with longtime friend Bob Hope, starring in the Road to... films from 1940 to 1962.

Crosby influenced the development of the postwar recording industry. After seeing a demonstration of a German broadcast quality reel-to-reel tape recorder brought to America by John T. Mullin, he invested $50,000 in a California electronics company called Ampex to build copies. He then convinced ABC to allow him to tape his shows. He became the first performer to pre-record his radio shows and master his commercial recordings onto magnetic tape. Through the medium of recording, he constructed his radio programs with the same directorial tools and craftsmanship (editing, retaking, rehearsal, time shifting) used in motion picture production, a practice that became an industry standard. In addition to his work with early audio tape recording, he helped to finance the development of videotape, bought television stations, bred racehorses, and co-owned the Pittsburgh Pirates baseball team.

On September 2, 1931, Crosby made his nationwide solo radio debut. Before the end of the year, he signed with both Brunswick and CBS Radio. Doing a weekly 15-minute radio broadcast, Crosby became a hit.

Thursday, May 2, 2024

Chicago Radio: 100.3 Evolves to Throwback 100.3!


Today 100.3 WSHE closed the circle on its musical evolution, which began 24 months ago! Now known as Throwback 100.3, the station that plays all the biggest hits from the greatest era of pop music, the 90s and early 2000s!

“I’m thrilled to be a part of a station brand built around the two decades of the best pop music ever released, the 90s and early 2000s! The New Throwback 100.3 brings back all the good times and great feelings those amazing songs gave us then and now.” stated Jimmy Steal, Vice President of Brand and Content for WTMX and WSHE.

Vice President & Market Manager Keith Lawless added, “Congratulations to everyone in Chicago. Throwback 100.3 is finally here! All the hits of pop music’s most exciting time can now be enjoyed in one place”.

Throwback 100.3 features nonstop throwback hits every Thursday! Every weekday at 9 a.m., 2 p.m., and 5 p.m., one lucky listener will win a throwback artist experience, and one of those 100+ winners will have a chance to win $1,000,000. The winning begins this Monday only on Throwback 100.3. 

📻Listen for more details: HERE

TV Ratings: Trump Trial Props-Up CNN


Two legal matters involving former President Donald Trump last week drove the bulk of cable news coverage last week, and helped third-place CNN make the most significant gains during primetime and total day in both total viewers and the Adults 25-54 demo. Meanwhile, MSNBC—which also provided extensive coverage of both Trump cases—posted gains with total viewers in primetime, as well as with total viewers and in the demo during the total day. Fox News, on the other hand, was the only network to see week-to-week declines across the board.

Nielsen live plus same-day data for the week of April 22 saw FNC average 1.930 million total viewers and 194,000 A25-54 viewers during primetime. The network was down in total viewers by -3% and -9% in the A25-54 demo relative to the week prior (the week beginning April 15).

In total day viewing, Fox News averaged 1.271 million in total viewers and 154,000 in A25-54 viewers for a week-to-week decline of -2% and -1% respectively.

Among all basic cable networks, Fox News fell from first place to third place in total primetime viewers and dropped from fifth place to seventh in the primetime demo. In total day, the network held its No. 1 position in total viewers and remained in third place in the total day demo.

MSNBC averaged 1.438 million total viewers and 133,000 viewers in the A25-54 demo in primetime. While the network was up +6% in total viewers, it experienced a -1% drop in the demo from the week prior. CNN’s primetime line-up averaged 772,000 in total viewers and 125,000 in the A25-54 demo. That translates to a total viewers gain of +30% and an uptick of +7% in the demo compared to the previous week.

MSNBC remained in fourth place among all basic cable networks in total primetime viewers and 15th place in the demo. During total day, it ranked as the No. 2 network in total viewers and moved up one spot from eighth to seventh in the total day demo. CNN finished the week rising from eighth place to fifth place in primetime with total viewers but dropped from 17th place to 18th place in the demo from the week prior. It also fell from No. 4 to No. 5 in total day viewers, but moved up from ninth to eighth place in the total day demo.

Fox had nine out of the 15 most-watched cable news shows of the week, led by The Five (3.079 million viewers at 5 p.m. ET). MSNBC took the remaining six spots, led by Deadline: White House with Nicole Wallace (1.910 million viewers at 4 p.m. ET).

Gutfeld! continued to hold the top spot among A25-54 viewers (270,000 viewers at 10 p.m. ET), and Fox News had 10 of the top 15 cable news shows in the demo overall. The 5 p.m. edition of MSNBC’s Deadline White House (194,000 viewers) helped the network occupy the remaining five spots.

No Deal For Comcast, DSG ‘Massive Disruption’ for MLB, NHL

 


A contract dispute between Comcast and Diamond Sports Group (DSG) has led to a significant blackout of 18 regional sports networks across the United States. DSG, which owns and operates these networks under the Bally Sports brand, failed to reach an agreement with Comcast, resulting in sudden blackouts for Comcast subscribers nationwide.

Here are the key details:

Background: DSG, previously making substantial progress in emerging from bankruptcy, faced a setback when it couldn’t finalize a new distribution deal with Comcast, the nation’s second-largest cable carrier. While DSG successfully reached a carriage agreement with Charter (the largest distributor in the U.S.) and is close to finalizing a deal with DirecTV, Comcast negotiations fell through, and a prior deal expired recently.

Greenville Radio: WORD Revamps Talk Line-Up


Audacy announces weekday lineup updates for News/Talk 98.9 WORD (WYRD-FM) in Greenville, effective May 6.

Mike Gallagher will host “The Mike Gallagher Show” weekdays from 10:00 a.m. to 12:00 p.m. ET. Joey Hudson will host a new show, “Sunrise Carolina with Joey Hudson,” weekdays from 5:00 a.m. to 6:00 a.m. ET and a magazine-style show, “The WORD on the Street,” on Saturdays from 12:00 p.m. to 1:00 p.m. ET.

“I am thrilled to have Mike return to News/Talk 98.9 WORD,” said Steve Sinicropi, Senior Vice President and Market Manager, Audacy Greenville-Spartanburg. “Mike is part of the fabric of Greenville; he connects with our audience and will be a terrific advocate for our advertisers. Having Mike and Joey onboard will enhance our incredible lineup and offer listeners live, locally connected talent.”

R.I.P.: Richard Tandy, Keyboardist For Electric Light Orchestra

Richard Randy (1948-2024)

Richard Tandy, the keyboardist for the British rock band Electric Light Orchestra, who helped shape the futuristic blend of Beatles-esque pop and orchestral arrangements that catapulted the group to global fame in the 1970s, has died. He was 76, reports The NY Times.

His death was announced by Jeff Lynne, the band’s frontman and leader, in a social media post. Mr. Lynne, who called Tandy his “longtime collaborator,” did not specify when Mr. Tandy had died or the cause of death.

Born on March 26, 1948, in Birmingham, England, Tandy joined E.L.O. after the release of its first album in 1972. He initially played bass guitar but became the group’s keyboardist after another member left.


Tandy remained a core member of the band through ever-changing lineups, alongside Mr. Lynne and the drummer Bev Bevan, until it disbanded in 1986. He was Mr. Lynne’s “multi-instrumentalist, co-orchestrator and valued musical partner,” the Rock & Roll Hall of Fame said when it inducted E.L.O. in 2017. When Mr. Lynne revived the band in the 2000s, Mr. Tandy was the only other longtime member to participate.

R.I.P.: Duane Eddy, The Influential Guitar Man

Duane Eddy (1938-2024)

Duane Eddy, who broke new ground in pop music in the 1950s with a reverberant, staccato style of guitar playing that became known as twang, died on Tuesday in Franklin, Tenn. He was 86, reports The NY Times.

The cause of his death, in a hospital, was complications of cancer, said his wife, Deed (Abbate) Eddy.

Eddy had tremendous success as a strictly instrumental recording artist in the late 1950s and ’60s, selling millions of records worldwide with growling, echo-laden hits like “Rebel Rouser” and “Forty Miles of Bad Road.” In the process, he played a major role in establishing electric guitar as the predominant musical instrument in rock ’n’ roll.

Eddy influenced a multitude of rock guitarists, including George Harrison, Jimi Hendrix and Bruce Springsteen, whose plunging guitar lines on “Born to Run” pay homage to Mr. Eddy’s muscular fretwork.

“Duane Eddy was the front guy, the first rock and roll guitar god,” John Fogerty, the founding lead singer and guitarist of Creedence Clearwater Revival, is quoted as saying on the Rhino Records website.


Eddy, who was self-taught, devised his rhythmic melodicism by playing the lead lines on his recordings on his guitar’s bass strings and by liberally using the vibrato bar. He never learned to read or score music, but he had a strong ear for pop idioms, including country, jazz, and rhythm and blues.

D/FW Radio: 570 KLIF Adding Brian Kilmeade


 Cumulus Media announces that Dallas-Fort Worth’s News and Information 570 KLIF/96.3 FM HD2 has added The Brian Kilmeade Show to its weekday on-air lineup.

Hosted by Brian Kilmeade, The Brian Kilmeade Show will air Monday through Friday from 9:00am-Noon, beginning Monday, May 6th. The popular talk radio show is nationally syndicated by FOX News Audio and tackles the top stories and news of the day, including political, financial, sports, entertainment, and more.

In addition to hosting The Brian Kilmeade Show, Kilmeade is Co-Host of FOX & Friends and Host of One Nation with Brian Kilmeade. He is also the host of What Made America Great and America: Great from the Start on FOX News Media’s streaming service FOX Nation.

Bruce Collins, Program Director, 570 KLIF/96.3 FM HD2, said: “We are extremely excited to add Brian Kilmeade to the 570 KLIF-AM/96.3 FM-HD2 weekday radio lineup, especially as we head into the election season. Brian will be talking each day to the movers and shakers in the political world, keeping DFW up to date. Together with Sean Hannity weekday afternoons from 4pm to 7pm, we have the national political scene more than covered.”

Brian Kilmeade commented: “I am thrilled to be joining a great station with a rich history like KLIF and enter the fourth biggest market in the country. I’m honored to be a part of this first-class lineup right in the middle of this historic election season, and in short order will be in Dallas to meet all of the listeners in person!”

📻For more information or to stream 570 KLIF/96.3 FM-HD2, visit: https://www.klif.com/.

5/2 WAKE-UP CALL: Hundreds Rally, Mayhem At UCLA


Hundreds of faculty and graduate student workers rallied on a sunny Wednesday afternoon outside Columbia University’s only open entrance, protesting the university’s decision hours earlier to send police on campus and arrest more than 100 pro-Palestinian demonstrators. Protesters held signs, including “no cops on campus,” as police entered and exited the campus gates just feet away. Others held signs calling for university President Minouche Shafik to resign. Faculty members said access was heavily restricted, as campus was closed for a second day in the period before finals, open only to students living on campus and essential workers.

The NYPD announced almost 300 arrests had taken place Tuesday at Columbia and City College − hours before Los Angeles police in riot gear swept onto UCLA's campus to break up a violent melee between dueling protesters as opposition to Israel's war in Gaza continued to roll through universities across the nation.

➤PROFESSIONAL AGITATOR HELPS COLUMBIA STUDENTS:  Professional protest consultant helps Columbia students . . . A video shows"We’re trying to document them being a- -holes," Lisa Fithian said to the camera person. "You’re right. They are being a - -holes." Fithian is a professional "protest consultant" who has been arrested over 80 times, Laura Ingraham of "The Ingraham Angle" said on her show Tuesday night. Fithian has reportedly participated in protests on climate change, Occupy Wall Street, and now, the Free Palestine movement.

➤BIDEN REMAINS QUIET: While pro-Palestinian protests have exploded at colleges across the nation, President Joe Biden has stayed largely silent about campus unrest that complicates his reelection campaign. Biden has not addressed the protests in a speech. Nor has he given any public remarks on the college protests at Columbia University and elsewhere in more than a week, with the White House instead issuing statements and addressing questions on the protests through spokespeople. The approach underscores the no-win situation Biden faces. Biden has remained a steadfast defender of Israel's war against Hamas, putting him at odds with many young progressive voters in his race against former President Donald Trump.

➤ARMED STUDENT NEUTRALIZED:  Police shot and killed an armed student outside a Wisconsin middle school Wednesday, sending students fleeing for their lives — including some who escaped on in-line skates. Authorities responded to an “active shooter” situation reported outside Mount Horeb Middle School and “neutralized” a student with a gun, school officials said.  No one else was harmed, State Attorney General Josh Kaul said at a press conference Wednesday evening.

Authorities described the student as a juvenile male but did not provide further identification. It’s not clear how many officers fired their weapons or whether the suspect had shot at them. Hours later, school officials were still working to get students who had been locked down since before noon back with their families. Terrified parents said that their children hid in closets, scared to take out their phones to call or text. One middle schooler said his class fled the school gym on in-line skates.

Brittany Rodriguez, a mother of four, told WMTV her son called her in a panic and said he heard multiple gunshots. “To get a call when you’re at work from your babies crying, saying there’s a shooting going on and we’re scared, and you’re 30 minutes away from them,” Rodriguez said.

➤HIGH INTEREST RATES WON'T GO AWAY ANYTIME SOON: The Fed said that inflation progress has stalled, so it’s extending its wait-and-see posture that could last well into the year. The central bank’s decision to leave the benchmark federal-funds rate in a range between 5.25% and 5.5% was widely anticipated. Chair Jerome Powell said that rate cuts could begin if the labor market weakened unexpectedly. The S&P 500 extended its recent slide after the announcement. Investors expect the Fed to maintain the same stance at its meeting next month.

➤DRAMA QUEEN MTG AFTER JOHNSON:   Rep. Marjorie Taylor Greene said she would call a vote next week to oust House Speaker Mike Johnson. The Georgia Republican and her allies have accused the GOP leader of betraying his conservative values by relying on Democrats to help pass important bills. Many Republicans object to her actions, which began a month ago with a motion to vacate. Greene acknowledged that she is unlikely to succeed in removing Johnson from the post, which requires a majority vote in the House, but said the move would force lawmakers to go on the record. Johnson has said that he doesn’t plan to resign and is doing the best he can given the party’s historically small majority. Democrats are poised to side with Johnson, unlike last year, when they voted alongside eight GOP rebels to oust then-Speaker Kevin McCarthy (R., Calif.).

Edison Research: Where to Find Light Audio Listeners


How do Americans 13+ spend their day with audio? Edison Research’s Share of Ear® study answers this question by having respondents nationwide complete a detailed one-day audio listening diary. 

This diary details what they listen to, where they listen, what device they listen on, and for how long. While on average respondents spend about four hours per day listening to all forms of audio, some spend hours and hours with audio sources while others spend little to no time at all. This week’s insight explores the audio habits of Americans at both ends of the listening-frequency spectrum. 

  • Heavy listeners are those who spend four or more hours per day with audio
  • Light listeners are people who spend one hour or less with audio each day
One key difference between heavy and light listeners is where they spend time listening to audio in a typical day. As you might imagine, heavy listeners infuse audio sources into all parts of their day in a number of different locations. They spend the most time with audio at home (59%), followed by in a car/truck (21%), then work (16%). A small fraction of their time (4%) is spent listening in other places


We see a completely different story when we observe where light listeners spend their time with audio. The car is key to reaching this audience, since light listeners spend the majority (60%) of their audio time listening in a car or truck. In fact, most light listeners (52% of them) only listen to audio in a car or truck. While some light listeners do listen in other locations, these people can be characterized largely as those who mostly just interact with audio while driving.

Understanding Share of Ear data is important if you want to think strategically about how to reach priority audiences with specific content or advertising. If you are looking to engage audiences who are harder to reach with audio sources, optimizing your advertisements and content for the in-car experience is essential. Additional information, such as the demographic composition of each of these audience segments, is available to Share of Ear subscribers.

UMG, TikTok Reach New Licensing Agreement


Universal Music Group (UMG) and TikTok have announced a new multi-dimensional licensing agreement that brings significant benefits for UMG’s global family of artists, songwriters, and labels. 

Here are the key details:

  • Improved Remuneration: By leveraging TikTok’s best-in-class technology, marketing, and promotional capabilities, UMG aims to deliver improved remuneration for its songwriters and artists. This means better compensation for their creative work.
  • Promotional Opportunities: The agreement also opens up new promotional and engagement opportunities for UMG’s recordings and songs on TikTok. Artists can connect with their fans in innovative ways through the platform.
  • Generative AI Protections: UMG and TikTok are committed to providing industry-leading protections with respect to generative artificial intelligence (AI). This ensures that artists’ work is safeguarded in the evolving digital landscape.
  • Return of Music:
    Fans on TikTok can look forward to the return of UMG’s recorded music and publishing catalogs. This means users can once again create videos using music from some of the world’s biggest artists and exciting emerging talent.
  • Monetization Opportunities: Both UMG and TikTok will explore new monetization opportunities using TikTok’s growing e-commerce capabilities. This collaboration aims to benefit artists across genres and territories globally.
  • Artist-Centric Tools: TikTok will continue investing in artist-centric tools, including features like “Add to Music App,” enhanced data and analytics, and integrated ticketing capabilities. These tools empower artists financially and help them build global fanbases within TikTok’s engaged community.

Overall, the agreement represents a strategic collaboration between UMG and TikTok, emphasizing the value of music, human artistry, and the welfare of the creative community1. It’s a positive step toward enhancing the music experience for both artists and fans on the platform.

For more information, you can read the official announcement here.