Has there been any real balanced reporting on this? Obviously this statement is biased to Universal’s profit motives, and that crafty 1% number.. they should share the same data for their other platform partnerships.
Chatter amongst acquaintances who work for various social media companies is that Universal has been attempting to play companies against each other, and their bluff was called by TikTok. I can’t confirm that as I wasn’t in the room, but it wouldn’t surprise me.
I do think this will end up having been a misstep for Universal - TikTok, Meta, Snap, and others have no shortage of catalogs and partnerships to promote music.