Global deal creates new revenue, marketing,
and insights opportunities for artists and songwriters
NEW
YORK, July 18, 2023 /PRNewswire/ -- Warner
Music Group (Nasdaq: WMG) and TikTok today announced a
wide-ranging, first-of-its-kind partnership that will benefit WMG's
artists and songwriters, and TikTok's billion-plus users around the
world. The multi-year, multi-product deal licenses the repertoire
of Warner Recorded Music and Warner
Chappell Music to TikTok, TikTok Music, CapCut, and TikTok's
Commercial Music Library.
The deal will expand the level of partnership, collaboration,
and innovation between the two companies. It will create new
revenue, marketing, and insights opportunities for WMG's artists
and songwriters, while deepening the engagement with TikTok's huge
audience of passionate music fans.
As part of the deal, WMG and TikTok will find new ways to
harness TikTok's revenue generation and promotional capabilities,
as well as a wealth of insights. In addition, artists and
songwriters will have access to new ways of working with TikTok's
vibrant brand partners, as well as to new fandom development and
monetization features, like merchandise, ticketing, and digital
goods and services, among other opportunities. Further, the deal
will see the joint development of additional and alternative
economic models.
Additionally, the companies have agreed to a licensing deal for
TikTok Music, the premium subscription streaming service that
recently launched in Indonesia and
Brazil, with plans for further
growth in other markets.
The deal also paves the way for WMG artists and songwriters to
leverage the unique promotional capabilities and engage with the
growing community of users on TikTok's sister video-editing app,
CapCut.
Robert Kyncl, CEO, WMG said: "We
are happy and excited for our next chapter together with TikTok.
Through this expanded and significantly improved partnership for
both companies, we can jointly deliver greater value to WMG's
artists and songwriters and TikTok's users."
Shou Chew, CEO of TikTok, said:
"We are very excited to partner with Warner Music Group to create a
shared vision for the future in which artists, songwriters, music
fans, and the industry can all benefit from the power of discovery
on TikTok platforms."
Download hi-res logos here.
About Warner Music Group
With a legacy extending back
over 200 years, Warner Music Group (WMG) today brings together
artists, songwriters, and entrepreneurs that are moving
entertainment culture across the globe. Operating 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
Records, Warner Classics, and Warner Music Nashville. WMG's
music publishing arm, Warner Chappell
Music, has a catalog of over one million copyrights spanning
every musical genre, from the standards of the Great American
Songbook 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 next gen artist services division
WMX, which includes consumer brands such as Songkick, the live
music app; EMP, the merchandise e-tailer; UPROXX, the youth culture
destination; and HipHopDX, the hip-hop music news site. In
addition, WMG counts storytelling powerhouse Warner Music
Entertainment and social media content creator IMGN among its many
brands. Follow WMG on Instagram, Twitter, LinkedIn, and
Facebook.
About TikTok
TikTok is the leading destination for
short-form mobile video. Our mission is to inspire creativity and
bring joy. TikTok's global headquarters are in Los Angeles and Singapore, and its offices include
New York, London, Dublin, Paris, Berlin, Dubai, Jakarta, Seoul, and Tokyo.
Media Contacts
For WMG
James Steven
James.Steven@wmg.com
Anamarie Palios
Anamarie.Palios@wmg.com
For TikTok
Alison
Bonny
Alison.Bonny@tiktok.com
Leah Linder
LeahLinder@tiktok.com
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SOURCE Warner Music Group Corp.