Warner Music Group announced on July 18 (local time) that it has signed a licensing agreement with TikTok, a Chinese video-sharing application.
The agreement is for a multi-year period, with the aim of increasing revenue from the social networking service.
The amount of the contract and other details have not been announced. The company will provide artists, songwriters, and composers with opportunities to monetize their work.
Warner Record Music and Warner Chappell Music’s repertoire of songs will be made available on TikTok and its commercial music library.
Warner artists will have access to over 1 billion TikTok users. In addition to music, the company expects to generate new revenue from merchandise, ticket sales, and digital goods and services. In addition, through the agreement, the two companies will also jointly develop new revenue models.
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