Universal Music Group and TikTok Strike New Music Licensing Agreement

Under the agreement, UMG says that its "global family of artists, songwriters and labels and will return their music" to TikTok.

The two companies have been in a months-long, and very public, standoff over the royalties TikTok paid to UMG's artists, with the music giant ultimately pulling the music from its roster of artists at the end of January. UMG even went so far as to releasing an open letter that accused TikTok of "trying to build a music-based business, without paying fair value for the music."

Signs of a growing détente between TikTok and UMG appeared in April, when it was revealed Taylor Swift's music has returned to the platform ahead of the artist's release of her double album The Tortured Poets Department.

Now the two companies have come to an agreement that will see the music by artists represented by UMG and songwriters represented by Universal Music Publishing Group return to TikTok in "due course."

Sir Lucian Grainge, chairman and CEO of Universal Music Group, said in a statement: "This new chapter in our relationship with TikTok focuses on the value of music, the primacy of human artistry and the welfare of the creative community. We look forward to collaborating with the team at TikTok to further the interests of our artists and songwriters and drive innovation in fan engagement while advancing social music monetization."

"Music is an integral part of the TikTok ecosystem and we are pleased to have found a path forward with Universal Music Group," TikTok CEO Shou Chew added in a statement. "We are committed to working together to drive value, discovery and promotion for all of UMG's amazing artists and songwriters, and deepen their ability to grow, connect and engage with the TikTok community."