Does TikTok Promote or Cannibalize Music Streaming? Estimands and Identification with Heavy-Tailed Outcomes

Daniel Winkler, Christian Hotz-Behofsits, Nils Wlömert +2

We study how TikTok affects demand for music on paid streaming platforms. We use Universal Music Group's (UMG) global withdrawal of its catalog from TikTok as a quasi-natural exper…