US-based short-form video sharing app (and TikTok rival) Triller has inked a new deal with UK-based B2B digital music company 7digital Group.
The agreement will see the latter company provide Triller with access to its global catalog of more than 80 million tracks by licensing its API for music sampling and full-length audio streaming.
In addition, 7digital will provide Triller with back-end support for tracking usage and reporting to labels including Sony, Universal Music Group, Merlin and Warner Music Group.
Triller recently launched several features to offer credit and revenue to artists, labels, and publishers, which includes implementing a full-song, in-app streaming feature for paying subscribers, which will now be supported by 7digital’s technical integration.
The new agreement is for an initial minimum term of 18 months and commences immediately.
The Company will receive both a monthly licensing fee and usage-based payments to capture Triller’s future growth.
“Our partnership with 7digital ensures that the Triller community will have access to a comprehensive and global music catalog.”
Mike Lu, Triller
Mike Lu, CEO of Triller, commented: “What we’re seeing now is a paradigm shift in which technology is fundamentally changing the way fans experience and interact with music.
“The success of our platform and unprecedented rates of engagement in our community shows that people want to do more with music and have a greater voice in discovery and creation.
“Our partnership with 7digital ensures that the Triller community will have access to a comprehensive and global music catalog.
“It also provides back-end capabilities that are essential to our platform’s appeal, enabling us to properly compensate artists and publishers when their music is streamed in viral clips.”
“Our new contract with Triller is further evidence of 7digital’s commitment to lead the B2B market by supporting the fastest growing and most innovative forms of music consumption.”
Paul Langworthy, 7digital
Paul Langworthy, CEO of 7digital, added: “Our new contract with Triller is further evidence of 7digital’s commitment to lead the B2B market by supporting the fastest growing and most innovative forms of music consumption.
“Using our music platform and catalog to serve the content needs of a global audience and manage the intricacy of rights and royalties, Triller can focus on building the experiences that are defining the future of music culture for fans, labels and artists.”
Los Angeles-based Triller is in the process of raising between $200m and $300m to fuel its expansion – having previously secured a roster of investors ranging from Snoop Dogg to Marshmello manager Moe Shalizi.
The app recently hit No.1 on the App store in 50 markets.Music Business Worldwide