@musicbizworld:  CONFIRMED: UNIVERSAL IS DISREGARDING UNRECOUPED BALANCES FOR HERITAGE ARTISTS

In February, MBW told you that Universal Music Group was planning to introduce a policy that would see unrecouped balances disregarded for eligible catalog songwriters and artists on its books.

We were told at the time by senior sources in the music industry that this policy would be confirmed publicly by UMG in the coming months.

Today (March 31), UMG has done just that.

Read the post on Music Business Worldwide

@alexeiscribe:  Universal Music Group Pulls Out of Russia

Universal Music Group, the world’s largest music company, says it is pulling out of Russia — the latest in a series of moves by global music companies taken in response to the country’s invasion of Ukraine.

“Effective immediately, we are suspending all operations in Russia and closing our offices there,” the company says in a statement sent to Billboard on Tuesday (March 8). “We urge an end to the violence in Ukraine as soon as possible.”

Read the post on Billboard

@xpangler: Universal Music Pulls Song Catalog From Triller, Saying TikTok Copycat ‘Shamefully’ Withheld Artist Payments

[There are some people you meet in life who just always seem to have the wrong side of the deal. We’ve seen this time and time again where services talk a big game and end up screwing you either on the front end, the back end or in the cracks. If they would do it to Universal, imagine what they’ll do to everyone else. And don’t think for one minute that TikTok is any better. Pulling a catalog, particularly given the size of Universal, is not something you do on a whim. A lot of thought and desperation went into this move. It’s a ballsy move, and it’s one that the publishers should have done long ago rather than suing people like Peleton, lest these people think you’re all talk and no action which they clearly do.]

Universal Music Group has removed its entire music library from video app Triller, a would-be TikTok competitor, alleging Triller has withheld payments to the music giant’s artists.

“We will not work with platforms that do not value artists. Triller has shamefully withheld payments owed to our artists and refuses to negotiate a license going forward,” a UMG rep said in a statement to Variety. “We have no alternative except to remove our music from Triller, effective immediately.”

Read the post on Variety