Indian music company Tips Industries has not renewed its licensing deal with Meta, according to chairman and managing director Kumar Taurani.
He revealed the news in an interview with news site Exchange4Media, in response to a question about the company’s deals with Google and Meta.
“We are in good relations with Google as the company helps in resolving copyright issues with other competitors in the market. We were also in contract with Meta for the last two years,” said Taurani.
“However, we haven’t renewed the contract this year because they were not correctly doing the valuation of our company and were also unable to meet our overall requirements, and therefore, we cancelled the partnership.”
No further details were given. It’s not the first story about an Indian music company going down this route.
In September 2022, Saregama was also reported to have not renewed its Meta deal, while signing a global YouTube Shorts agreement.
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