This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Business News Deals Digital Labels & Publishers
TikTok rival Lomotif signs licensing deal with Universal
By Andy Malt | Published on Tuesday 27 July 2021
TikTok rival Lomotif has signed a licensing agreement with Universal Music, giving the video-sharing app and its users access to the major label’s big old catalogue of lovely music.
“We are very pleased that Lomotif’s fast-growing community of users around the world will be able to take inspiration from the artists and music they love, all while ensuring UMG’s artists are fairly compensated for the value music generates on Lomotif’s platform”, says Michael Nash, Universal Music’s EVP of Digital Strategy.
“UMG continues to broaden the creative and commercial opportunities for our artists by licensing an ever-expanding array of new digital platforms and supporting emerging entrepreneurs”, he goes on. “We look forward to working with Lomotif to help unlock even more innovative music-based features for their community”.
Lomotif CEO Paul Yang adds: “Our deal with Universal Music Group will continue to grow users and increase engagement within our platform, a destination for emerging artists, and will significantly expand the types of music our community can utilise, collaborate with and share. With nearly 800 million videos created to date, we are heading in a great direction as a platform and making high-value content, functionality and features available to our community will only help us grow exponentially”.
Lomotif claims to be the fastest-growing video-sharing social network, with more than 225 million installations of its app in 200 countries over the last three years. Whether it can challenge TikTok remains to be seen.
