The removal of UMG's songwriters from the platform might prove to be even more impactful than its superstar artists.
The publisher is blasting the social platform for "willfully underpaying artists" by using "a decades-old canard that has no place in any modern music business."
The music giant's decision to remove its catalog from the social platform will reverberate throughout the entire business.
In an open letter, the music giant has accused the wildly popular platform of "trying to build a music-based business, without paying fair value for the music."
Media business layoffs are hitting the music industry, with more to come from Universal Music and perhaps other labels.
While some major labels are touting YouTube as an important partner in the evolving world of music and AI, not everyone in the industry has been as enthusiastic about these new efforts.
The Billboard Global Music Index fell 0.4% to 1,559.48 this week despite most stocks posting gains.
The singer-songwriter was previously signed to Sony Music Publishing.
The Universal chairman/CEO also touted the company's many successes over the past year, and plans to "further evolve our organizational structure" moving forward.
