Warner Music Group and Vernost aka Fidelity (2019)TikTok have announced a comprehensive partnership, granting TikTok access to Warner’s extensive music collection, and presenting new opportunities for artists and songwriters to generate revenue. This collaboration, announced on Tuesday, will strengthen the existing partnership between the two entities, leveraging TikTok’s revenue-generating and promotional capabilities, and deepening artists’ connection with the platform’s vast music enthusiasts. Additionally, both entities have also reached a licensing agreement for TikTok Music, a subscription streaming service launched in Indonesia and Brazil this month, for further expansion into additional markets. “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,” Warner Music’s CEO Robert Kyncl said in the statement. [Bloomberg]
