TikTok is expected to triple this figure to $12 billion in 2022.Īs a percentage of that total 2021 turnover, the amount TikTok is estimated to have paid recorded music rightsholders ( $179m) therefore works out at 4.5%.Ī good time, then, to make a quick basic comparisons to another platform – one of TikTok’s key rivals – on which the modern music industry is also heavily reliant. According to Bloomberg, TikTok generated revenues approaching $4 billion globally in 2021. According to IFPI numbers, ad-supported revenues paid to the record business in 2021 amounted to approximately $4.6 billion.In turn, Goldman estimates these “emerging platform” revenues made up 30% of all ad-supported streaming revenues paid to the recorded music business in 2021.According to Goldman Sachs, TikTok contributed an estimated 13% of record labels’ “emerging platform” revenues in 2021 (see below Facebook/Meta contributed 29%).labels and artists) a grand total of around $179 million in 2021. If you listened to the MBW’s most recent Talking Trends podcast – and thousands of you already have – you may have picked up on a particularly relevant data point for the modern music business.Īccording to MBW’s read of Goldman Sachs‘ latest Music In The Air report, TikTok paid recorded music rightsholders (i.e.
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