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\n \u201c<\/span>\u201cWith regard to all of these platforms and I suppose specifically around TikTok, we like to be friendly. We\u2019re friendly people, more than happy, my phone is open, unfortunately, 24 hours a day. And we hope that we will be able to find solutions.\u201d\u201d<\/span>\n <\/p>\n Grange was speaking on a call with analysts after the company\u2019s fourth-quarter results, and discussing what the Wall Street Journal called the nuclear option, of taking down their music videos from TikTok, in a dispute over fees and other issues.<\/p>\n The company\u2019s chief digital officer, Michael Nash, says the company hopes that it can recapture some of the lost revenue on other platforms, such as Reels from Meta Platforms or YouTube Shorts from Alphabet. He noted that in India, TikTok was banned in 2020, and users went to other platforms \u2014 though the big difference in this dispute is that TikTok is not being banned while Universal Music is not on the Bytedanced-owned platform.<\/p>\n Nash said the takedowns only started happening earlier this month, so it\u2019s too early to tell the impact. \u201cWe do know that Universal Music Group audio streaming consumption remains stable globally and regionally, both frontline and catalog. In fact, we\u2019ve observed no discernible negative impact on our broader digital business. In fact, we\u2019ve seen a slight uptick in terms of frontline consumption and catalog consumption over the short period of time,\u201d he said, according to a transcript from FactSet.<\/p>\n He also cited data from Apptopia, showing that year-on-year growth and time spent on TikTok slowed from 1% in the two months prior to the end of the deal to -3% in the second half of February.<\/p>\n
\n \u2014 Universal Music Chairman and CEO Lucian Grange<\/span>
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