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Morning Brew Daily
Big Tech CEO's Testify on Child Safety & T-Swift Gone from TikTok?
Feb 1, 2024
Recap of yesterday's Congressional testimony with Big Tech CEOs on child safety. Discussion on the Fed meeting and Universal Music group's dispute with TikTok. Highlights of sports business deals. Elmo's concern about mental health.
29:19
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Quick takeaways
- Universal Music Group (UMG) has pulled its music from TikTok due to a lack of fair compensation, potentially impacting the platform's popularity.
- The recent Congressional testimony highlighted the urgent need for Congress to enact regulations to address child safety on social media platforms.
Deep dives
TikTok Loses Music from Lady Gaga, YouTube, Bad Bunny, and Taylor Swift
TikTok will no longer feature music from artists like Lady Gaga, YouTube, Bad Bunny, and Taylor Swift, as Universal Music Group (UMG) has pulled its music from the platform due to a lack of fair compensation. UMG, the second-largest record label in the world, accounts for 1% of TikTok's ad revenue, yet its artists represented 8 out of the top 10 singers on the platform last year. This move could impact TikTok's popularity, as roughly 60% of its videos include some form of music.
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