Some undeniable truths affect creatives in the music space, in the end, final control of when, where, and how their art is/can/will be allowed to be used often lies in the hands of others. One move that turned the industry on its ear is Universal Music Group removing their entire catalog from the social media app TikTok over concerns about…of course…money. The forward-facing message about the move is the further protection of artists under the UMG umbrella. With UMG being a publicly traded company, yes, you can buy stock in Universal Music Group, the move may have caused some ripples in the currency market. Since it was a business decision that had a financial impact on creatives who were using or benefitting from their licensed music on the platform AND with the explosive changes around that time and after this announcement I wanted to know how this touched the currency market since this is an international powerhouse company with billions in revenue.
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