TikTok’s owner firm ByteDance Technology Co Limited is reportedly planning to launch its own music streaming service. Several media reports have suggested that the Beijing based technology firm is in talks with major music labels including Sony Music, Warner Music, and Universal Music for global licensing deals for its new music subscription service.
The new music app may launch in December
Media reports have suggested that the company may launch its own music streaming platform by the end of next month. ByteDance is expected to initially launch its music streaming service in emerging markets like India, Brazil, and Indonesia before launching it in the United States.
ByteDance’s upcoming music app is likely to include both on-demand music and a library of short video clips for listeners to search through and synch to songs as they listen. It is not yet clear how the company will price its latest service and what will it be called. But, users can expect it to be slightly cheaper than the music streaming services provided by firms like Spotify and Apple which cost users around $10 per month.
Social Commerce: Another ByteDance Experiment
TikTok has also begun to explore e-commerce earlier this month. It now allows some users to add links to other websites including various e-commerce websites in the biography section of their TikTok profile. Moreover, content creators can also send viewers to third party shopping websites.
ByteDance representatives have said that the two features are part of its usual experimentation to further improve the user experience on the app. However, industry experts have said that TikTok can easily leverage social commerce given its large user base if it retains the two features.
Also Read: Is TikTok Cringy Or A Marketing Dream?
Notably, its new features are likely to make it an even more lucrative social media platform for influencers. TikTok has already reached 1.5 billion downloads worldwide on the Google Play Store and Apple App Store with Indian leading the charts with around 31 percent of all unique installs.