Global deal creates new revenue, marketing and insight opportunities for artists and songwriters
NEW YORK, July 18, 2023 /PRNewswire/ — music group warner (Nasdaq: wmg) and TikTok today announced a far-reaching, first-of-its-kind partnership that will benefit WMG artists and songwriters, and the more than 1 billion TikTok users around the world. The multi-year, multi-product deal licenses Warner Recorded Music’s repertoire and Music by Warner Chappell to TikTok, TikTok Music, CapCut, and TikTok’s commercial music library.
The agreement will expand the level of partnership, collaboration and innovation between the two companies. It will create new revenue, marketing and insight opportunities for WMG artists and songwriters, while deepening engagement with TikTok’s huge audience of passionate music fans.
As part of the agreement, WMG and TikTok will find new ways to leverage TikTok’s revenue-generating and promotional capabilities, as well as a wealth of know-how. In addition, artists and songwriters will have access to new ways to work with TikTok’s vibrant brand partners, as well as new fandom-building and monetization features such as merchandising, ticketing, and digital goods and services, among other opportunities. In addition, the agreement will contemplate the joint development of additional and alternative economic models.
In addition, the companies agreed to a license agreement for TikTok Music, the premium subscription streaming service that recently launched on Indonesia and Brazilwith plans for further growth in other markets.
The deal also paves the way for WMG artists and songwriters to take advantage of unique promotional capabilities and engage with the growing community of users on TikTok’s sister video editing app CapCut.
Roberto KynclCEO, WMG said, “We are happy and excited about our next chapter together with TikTok. Through this significantly enhanced and expanded partnership for both companies, we can jointly deliver greater value to WMG artists and songwriters and TikTok users.” .
shou chewTikTok CEO, said: “We are very excited to partner with Warner Music Group to create a shared vision for the future where artists, songwriters, music fans and the industry can benefit from the power of discovery on TikTok platforms. “
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About Warner Music Group
With a heritage that stretches back more than 200 years, Warner Music Group (WMG) today brings together the artists, songwriters and entrepreneurs who are driving entertainment culture around the world. With operations in more than 70 countries through a network of affiliates and licensees, WMG’s recorded music division includes renowned labels such as 300 Entertainment, Asylum, Atlantic, Big Beat, Canvasback, Elektra, Erato, First Night, Fueled by Ramen, Nonesuch, Parlophone, Reprise, Rhino, Roadrunner, Sire, Spinnin’, Warner’s Records, Warner Classics and Warner Music Nashville. music publishing arm of WMG, Music by Warner Chappell, has a catalog of over a million copyrights spanning every genre of music, from Great American Songbook standards to the biggest hits of the 21st century. Warner Music Group is also home to ADA, the independent artist and label services company, as well as the next-generation artist services division WMX, which includes consumer brands such as Songkick, the live music app; EMP, the electronic merchandise retailer; UPROXX, the destination for youth culture; and HipHopDX, the hip-hop music news site. Additionally, WMG counts storytelling powerhouse Warner Music Entertainment and social media content creator IMGN among its many brands. Follow WMG on instagram, Twitter, LinkedInand Facebook.
About Tik Tok
TikTok is the leading destination for short-form mobile video. Our mission is to inspire creativity and bring joy. The world headquarters of TikTok is in the Angels and Singaporeand its offices include NY, London, Dublin, Paris, Sedan, dubai, Jakarta, seouland tokyo.
For Tik Tok
SOURCE Warner Music Group Corp.