TikTok challenging Spotify and Apple Music with its own streaming platform
TikTok, one of the most popular social media platforms at the moment, with more than 1 billion users from all around the world is making some huge moves in the world of music streaming and creator rights as we know it. They are going to challenge the biggest music streaming platforms Spotify and Apple Music with the launch of its own rival platform.
ByteDance, the Chinese company behind the app is currently talking to some of the world’s largest music companies like Universal Music, Sony Music and Warner Music, about global licensing deals to include their songs on its new music subscription service, which is set to launch as soon as next month. According to people briefed on the plans, their initial goal is to conquer the emerging markets such as India, Indonesia and Brazil and then export to the US.
A lot of things are yet unknown regarding the new platform, like the name, launch date or the exact price point, however it is expected that it will be less than $10. Since TikTok mainly became as successful as it is, because of the viral videos and challenges that are spread around the app, ByteDance wants to incorporate a similar library of short video clips, which the users could then share with their friends.
Next to all of that TikTok is trying really hard to support upcoming, independent artists and to give them a way to be heard on their platform. After successfully launching their TikTok Spotlight musician program earlier this year, now they unveiled their new feature TikTok For Artists. It will not only allow musicians to upload their music on to the app easier than ever, but it will also give them detailed analytics on their uploaded tracks and offer them a full insight to monitor current trends and maximize engagement with their content.