Universal Music Group signs licensing deal with TikTok rival Lomotif
Image credit: Lomotif
Universal Music Group has officially inked a licensing deal with Singapore based Lomotif, a TikTok rival.
Universal Music Group (UMG) has officially signed a licensing deal with TikTok rival Lomotif. Under the agreement, Lomotif users will be able to “create clips using songs from the big three record label and easily add UMG’s music to a clip right from the app”, according to the agreement.
Lomotif is one of several short-form video platforms that are taking on TikTok. So far, Lomotif has racked up roughly 225 million installations, is available across over 200 countries and in 300+ languages. The platform is especially popular in Brazil, which houses 210 million residents, not to mention an ever-growing music industry that is stream-driven. Lomotif also boasts a sizeable user base, consisting of roughly 31 million MAU’s (monthly active users), according to their report. In addition to this, their audience watches approximately 300 million videos per month with a total of some 740 on-platform videos.
Speaking on the UMG licensing deal, Lomotiff founder and CEO Paul Yang said: “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 utilize, collaborate with and share.” He adds: “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.”