Chinese social media platform TikTok and Sony Music have signed a long-awaited license agreement. Thus, TikTok will be able to use Sony Music Entertainment tracks in its application without any problem.
Sony Music Entertainment and TikTok sign license agreement
Since TikTok started to grow in popularity, it has been looking for opportunities to make deals with major music companies. In this direction, the company announced in a press release that it signed a license agreement with Sony Music Entertainment. According to Bloomberg, the firm will pay more than previous license agreements. Sony will also have the opportunity to promote its artists and work on ways to better personalize TikTok users.
Thanks to the practice, Sony and its companies have recently made huge gains. For example, Lil Nas X, who increased his popularity with the song Old Town Road, made an agreement with Columbia, a Sony company. Jason Derulo, on the other hand, gained popularity in both practice and music markets with his song Savage Love.
The social media application is currently working to make deals with companies such as Warner and Universal. These companies, which make up most of the American music market with the inclusion of Sony, constitute an important place for TikTok to hold in the market. Earlier, Billboard reported that TikTok had short-term license deals earlier in the year, but these deals were shorter than regular deals.