AssetID: 52905140
Headline: UNCAPTIONED: TikTok reaches new licensing agreement with Warner Music
Caption: TikTok Reaches New Licensing Agreement With Warner Music. Reuters reports that Warner Music Group has reached a new licensing agreement with TikTok meant to boost the company's social media revenues. The deal is aimed at helping Warner Music's artists to tap into new revenue and marketing opportunities provided by TikTok's over 1 billion users. On July 19, the two companies announced the new deal, while declining to share the financial terms of the agreement. Reuters reports that social media has propelled many new artists to stardom when their music was featured on viral content. The new deal gives Warner Music's artists access to TikTok's brand partners and new opportunities for monetization, including features like merchandising, ticketing and distribution of digital goods. TikTok will also have access to the collection of Warner Recorded Music and Warner Chappell Music. Licenses for that content will be available for TikTok, TikTok Music, CapCut and TikTok's Commercial Music Library. "We are happy and excited for our next chapter together with TikTok.", Robert Kyncl, CEO at Warner Music Group, via 'Variety'. "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", Robert Kyncl, CEO at Warner Music Group, via ‘Variety’. THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: TikTok,Reaches,New,Licensing,Agreement,Warner Music,Warner,Social Media,Users,Streaming,Views,Dance,Music,Viral,Content,Companies,Revenues,Warner Music Group,Bands,Groups,Singers,Artists,Musicians
PersonInImage: