Facebook parent company Meta Platforms and Universal Music Group (UMG) announced on Monday that they had reached an expanded licensing agreement. This is intended to create new opportunities for artists represented by Universal on Meta’s social networks. The news agency Reuters reported this on Monday.
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“UMG was the first major music company to acquire a license for Facebook in 2017, and this new agreement will further expand the opportunities for music within the meta ecosystem,” Universal in the Reuters report quoted. The world’s largest music label represents artists such as Taylor Swift and Billie Eilish. The agreement affects all of Meta’s major social platforms, including Facebook, Instagram, Messenger and, for the first time, WhatsApp, it said. According to UMG, the renewed agreement also regulates the issue of compensation for performing artists, composers and librettists.
Agreement also with TikTok
At the end of July, Universal announced that it had ended a partnership with Meta for streaming premium music videos. According to the music company, the videos were less popular with Facebook users than other music products.
At the beginning of May, Universal settled its music licensing dispute with TikTok. Both companies agreed on a new agreement. This means that numerous songs by artists under contract with Universal have returned to the video platform. From now on, TikTok will help with marketing.
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