TikTok May Release Its Own Music Streaming Service
TikTok’s success in 2019 is undeniable, and its owner Bytedance is planning to ride the wave further by launching a new music stream app. The short-form video app registered over 1.5 billion downloads and has over one billion monthly active users.
The Chinese company already announced the release of its own smartphone earlier this month and it’s not stopping there. The new music streaming service is set to be launched in emerging markets like Brasil, India, and Indonesia. ByteDance is said to still be in talks with Sony, Universal and Warner to license their music catalogs for the service. However, it might arrive sooner than you think. It's believed to be launching as early as December. It will more than likely be a paid service but be a fierce competitor of Spotify and Apple Music, a Financial Times report suggests.
As expected, Bytedance’s music streaming service will offer features that promote and plug directly with TikTok. The same FT report says users will be able to sync the music they’re listening in the app with TikTok and create videos.
Apart from this new service, Bytedance is looking to enter the search engine and instant messaging markets, having already launched “Toutiao” in China.