Warner Music stock leaps after TikTok licensing partnership announced

Shares of Warner Music Group Corp. WMG jumped 4.5% in morning trading Tuesday, after the music recording and publishing company announced a licensing partnership with short-form mobile video giant TikTok, which is owned by China-based ByteDance Co. Ltd. Warner’s stock was up only 0.2% just before the announcement.

Warner’s stock was up only 0.2% just before the announcement. Warner Music said the “multi-year, multi-product” deal covers the licensing of Warner’s recorded music library, as well as that of Warner Chappell Music, to TikTok, TikTok Music, CapCut and TikTok’s commercial music library. In addition, Warner’s artists will be able to find new ways of working with TikTok’s brand partners, as well as access to new monetization features, such as merchandizing and ticketing.

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