"With respect to the issue of artist and songwriter compensation," the letter continues, "TikTok proposed paying our artists and songwriters at a rate that is a fraction of the rate that similarly situated major social platforms pay. Today, as an indication of how little TikTok compensates artists and songwriters, despite its massive and growing user base, rapidly rising advertising revenue and increasing reliance on music-based content, TikTok accounts for only about 1% of our total revenue. Ultimately TikTok is trying to build a music-based business, without paying fair value for the music."
"There's this really fast growing sector of independent artists and what is commonly referred to as 'the long tail' that are also releasing their music to streaming services and competing for attention," she says, referring to all of the other music floating around that's available to be used.
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