Lomotif CEO Paul Yang speaking about the deal said the collaboration will increase engagement and grow users within the video-sharing app. He stated that Lomotif now boasts of nearly 800 million videos created and he believes the company is heading in the right direction.
Our deal with Universal Music Group will continue to grow users and increase engagement within our platform, a destination for emerging artists, and will significantly expand the types of music our community can utilise, collaborate with and share.
With nearly 800 million videos created to date, we are heading in a great direction as a platform and making high-value content, functionality and features available to our community will only help us grow exponentially
Also, Universal Music’s EVP of digital strategy Michael Nash while announcing the deal revealed the music label is pleased with the fact that Lomotif users can take inspiration from the music they love. He said:
We are very pleased that Lomotif’s fast-growing community of users around the world will be able to take inspiration from the artists and music they love, all while ensuring UMG’s artists are fairly compensated for the value music generates on Lomotif’s platform.
UMG continues to broaden the creative and commercial opportunities for our artists by licensing an ever-expanding array of new digital platforms and supporting emerging entrepreneurs. We look forward to working with Lomotif to help unlock even more innovative music-based features for their community.