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Universal Music Group inks licensing deal with Lomotif
Mumbai: Singapore-based short video app Lomotif and Universal Music Group (UMG), on Monday announced a global agreement that allows Lomotif’s users to creatively tap into UMG’s vast catalogue of music for their videos.
Lomotif has seen more than 225 million installations of the app globally, and its users are watching more than 300 million videos a month in over 200 countries, the platform said in a statement. With the new agreement, UMG becomes the first major music company to globally license Lotomif, empowering the company’s community of users to create clips using songs from UMG’s music library, it added.
“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,” said Lomotif’s CEO and founder Paul Yang. “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.”
“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,” said UMG’s executive vice president of digital strategy Michael Nash. “UMG continues to broaden the creative and commercial opportunities for our artists by licensing an ever-expanding array of new digital platforms and supporting early-stage entrepreneurs. We look forward to working with Lomotif to help unlock even more innovative music-based features for their community.”
eNews
Paisabazaar launches Credit Premier League 2.0
Nationwide campaign rewards highest credit scores with Rs 1 lakh top prize.
MUMBAI: When credit scores become a national league, even your CIBIL report starts feeling like it’s playing in the IPL and Paisabazaar has just kicked off the second season. Paisabazaar, India’s leading marketplace for financial products and the country’s largest free credit score platform, has announced the return of the Credit Premier League (CPL) 2.0, a fun, nationwide initiative to recognise and reward individuals with the highest credit scores.
Building on the success of the first edition, CPL 2.0 introduces higher rewards and broader participation. The individual(s) with the highest credit score in the country will win Rs 1 lakh, while state champions will each receive Rs 10,000. Additionally, all participants from the winning state, the one with the highest average credit score will also be rewarded.
All winnings will be credited directly to winners’ PB Wallet, allowing them to pay credit card bills, recharge mobiles, or settle utility bills seamlessly on the Paisabazaar platform.
Paisabazaar CEO Santosh Agarwal said the campaign aims to make credit awareness more engaging and mainstream. “With CPL, we are bringing together engagement, gamification and rewards to make conversations around credit scores more mainstream,” he noted. “Our focus remains on building a financially aware and credit-healthy Bharat.”
The first edition of CPL saw over 5.5 million participants, with the highest individual score touching 861. Delhi recorded the highest average credit score of 746.
Consumers can participate simply by checking their free credit score on the Paisabazaar platform or app. The CPL leaderboard and rankings will be available exclusively on the Paisabazaar App.
In a country where financial dreams are serious business, Paisabazaar has found a smart way to turn credit scores into an exciting game – because when your financial health gets rewarded, everyone wants to play.
