It’s been a busy year for the short form video platform TikTok, which was forced to endure a change in ownership this year following an executive order by U.S. President Donald Trump. TikTok has now achieved lucrative licensing deal with Sony Music Entertainment (SME), which will allow the app’s creators to access Sony’s giant music catalog.
During the past couple of years, TikTok has been successful in helping launch the careers of artists such as Lil Nas X, while also fueling resurgence in popularity for classic hits. A viral clip from the platform using the 1977 Fleetwood Mac classic “Dreams” helped launch the song back into the Hot 100, while its album Rumors reentered the top 10 charts for the Billboard 200.
“Short-form video clips have developed into an exciting new part of the music ecosystem that contributes to the overall growth of music and the way fans experience it,” SME president of global digital business and U.S. sales Dennis Kooker said in a statement. “TikTok is a leader in this space and we are pleased to be partnering with them to drive music discovery, expand opportunities for creativity, and support artist careers.”
TikTok eventually sealed its ownership deal with Oracle, after rejecting deal with Microsoft ahead of the company’s looming ban deadline. The controversy over TikTok began in the summer, after U.S. Secretary Mike Pompeo claimed that he was looking to ban the app, alongside other Chinese-owned social media apps.
The company ended up suing the Trump administration back in August over a due process violation, which claimed that Trump had to prove they were threat to national security, before attempting to band the platform. TikTok’s potential ban led companies such as Facebook to begin work on similar services.
Leave a Comment