What you need to know
- A report claims that TikTok is set to announce a deal with global licensing agency Merlin.
- It will allow Tiktok to use music from tens of thousands of independent music labels in its videos.
- It will also pave the way for TikTok's new music subscription service, Resso.
TikTok has announced a deal with Merlin that will allow it to use music from tens of thousands of independent labels in its videos, as well as on its new music streaming service Resso.
According to TechCrunch:
The report further states that a source has confirmed the deal will cover TikTok's upcoming music subscription service, Resso. It was reported back in December that TikTok owner ByteDance is testing a new music app in pursuit of its next big hit, and in a bid to diversify its income away from ad revenue.
In a statement Ole Obermann, global head of music for Bytedance and TikTok said:
TikTok hasn't signed deals with any major labels such as Sony Music or Universal, however, the report suggests that "there are signs that more such licensing agreements will be around the corner." Merlin CEO Jeremy Sirota described the partnership as "very significant" and heralded a new generation of music services and music-related consumption:
Whilst the deal covers Resso, there is no indication as to when we might see the new streaming service hit the market.
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