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The labels are increasing the number of agreements with social networks

2021-07-27T17:37:35.186Z

ANALYSIS - After TikTok and Snapchat, Universal Music Group signed with Lomotif. Objective: to diversify sources of income.



After five years of discussions, Universal Music Group (UMG) announced on Monday that it had signed a license agreement with the Lomotif video-sharing app.

Users of this small Singaporean TikTok competitor will now be able to use music from the major's catalog in their videos.

If the two companies do not communicate on the financial terms of their agreement, the standard consideration is to pay a fixed part of the income generated by the content to the rights holders.

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This is not the first time that music industry leader Universal has signed such an agreement with a social network.

In just six months, it has joined forces with three platforms.

On February 8, he signed up with TikTok, then signed a contract spanning

“several years”

with Snapchat.

Partnerships are multiplying between majors and platforms in recent months.

Besides UMG, the TikTok app has partnered with Warner Music and Sony Music, giving its

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Source: lefigaro

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