Get the latest market trends in your inbox

Stay on top of the latest market trends and economic insights with the Axios Markets newsletter. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Minneapolis-St. Paul

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa-St. Petersburg news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Illustration: Lazaro Gamio/Axios

Tech giants, eager to capitalize on shifting music consumption trends pegged to the rise of TikTok, are pushing to line up music rights with record labels and launch partnerships with music distributors.

Why it matters: “Music is a giant driver of social media, attracting enormous followers," says Mitch Glazier, Chairman and CEO of the Recording Industry Association of America (RIAA). "As live streaming and new social media platforms emerge, they must be accountable, compete fairly, and respect the work of music creators posted online.”

Driving the news: TikTok on Monday announced a partnership with UnitedMasters, a music distributor, for artists discovered on TikTok to distribute their music to fans on other music streaming platforms, like Spotify, YouTube or Apple Music.

  • The partnership will strengthen TikTok's relationships with artists and music creators who use the app, at a time when TikTok's rivals are pushing to broker deals with music labels, and strengthen their ties to the music community.
  • Facebook last month announced deals with a slew of music labels, including Sony Music Group, Universal Music Group, Warner Music Group, Merlin and others to be able to showcase music videos on its platform.  
  • Snapchat last month confirmed that it is in the early stages of testing new ways to integrate music into Snapchat after brokering licensing partnerships with Warner Music Group, Universal Music Group, and others.

Be smart: YouTube has long been one of the biggest players in the on-demand music market.

  • YouTube streams so many music videos, in fact, that a 2017 report found that YouTube alone then accounted for 46% of all time spent listening to on-demand music.

The big picture: TikTok's rise to social media dominance has helped fuel a social media karaoke and music video boom.

Go deeper

Nov 24, 2020 - Technology

YouTube temporarily suspends, demonetizes OANN

Photo: Mateusz Slodkowski/SOPA Images/LightRocket via Getty Images

YouTube has barred One America News Network from posting new videos for a week and stripped it of its ability to make money off existing content after the Trump-friendly channel uploaded a video promoting a phony cure for COVID-19, YouTube spokesperson Ivy Choi tells Axios.

Why it matters: YouTube has been criticized for allowing OANN to spread misinformation using its platform, particularly around coronavirus and the election. This marks the Google-owned service's first crackdown against OANN.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Fauci says he accepted Biden's offer to be chief medical adviser "on the spot" — The recovery needs rocket fuel.
  2. Economy: U.S. economy adds 245,000 jobs in November as recovery slows — America's hidden depression: K-shaped recovery threatens Biden administration.
  3. Education: Devos extends federal student loan relief to Jan. 31
  4. States: New Mexico to allow hospitals to ration coronavirus medical care
  5. Vaccine: What vaccine trials still need to do.
  6. World: UN warns "2021 is literally going to be catastrophic"
  7. 🎧 Podcast: Former FDA chief Rob Califf on the vaccine approval process.
2 hours ago - Health

A safe, sane survival guide

Photo: Luka Dakskobler/SOPA Images/LightRocket via Getty Images

We all know, it’s getting worse.

Reality check: Here are a few things every one of us can do to stay safe and sane in coming months: