Track Club 🎶 is the new music licensing subscription app offering creators not only the opportunity to find that perfect song from a hyper-curated library of tracks, but be able to customize your track however you want.

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It’s a B-Corp and the first music licensing company investing 10% of all profits back to community organizations, knowing your creative project is giving back with purpose.

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In the beginning, TikTok paid labels a flat fee to license music for use in users’ videos. Now TikTok is massive...with over 1B+ users, it earned $4B in revenue in 2021 and is on track to earn $12B in 2022. 

Now, Universal Music Group, Sony Music Entertainment, and Warner Music Group which, combined, hold 70%+ of market share want TikTok to fork over more in advertising revenue and royalties.

TikTok is a huge music marketer, surfacing new talent,  75% of US TikTok users find new music there, and promoting artists.

Songs can also go viral, like Megan Thee Stallion’s “Savage,” used in 24m+ videos. But, due to that flat fee, they don’t generate extra revenue.

• One exec says TikTok should be paying 2x-10x more, based on similar agreements with other platforms, per Bloomberg.

• For example, YouTube paid the music industry $6B+ between July 2021 and June 2022.

TikTok argues it shouldn’t have to pay the same as music platforms ‘cause it isn’t one. Or is it?

TikTok parent company ByteDance has a music streamer, called Resso, in Indonesia, Brazil, and India with plans to expand.

Other clues:

• It recently registered a trademark for a “TikTok Music” app.

• Its SoundOn feature allows artists to upload and earn royalties on their music.

• It’s hiring people to sign and develop new artists.

TikTok and the labels will likely come to an agreement, or at least an extension, before contracts expire in a few months. But TikTok may ultimately end up on top. (Read more on The Hustle)

• Instagram provides the capacity to add music to still image posts (Social Media Today)
• TikTok is testing its long-awaited in-app shopping feature (The Verge)
• A verified mess: Turmoil from Twitter to FTX (NYTIMES)