Possible Rise of TikTok Music
- 02 Aug 2022
TikTok and music are tightly connected as many users have gotten used to finding out about new releases from the app. At this point, it seems only logical if ByteDance, the mother company of TikTok, progresses further into the streaming business.
ByteDance has filled a trademark within the US for TikTok Music as of May. The recent leaks seem like the platform could be used for purchasing, sharing, playing, and downloading music. Of course, features help it stand out, like commenting on different tracks and creating original playlists.
It is not new that ByteDance decided to turn to stream services since, in 2020, the company launched Resso in Brazil, India, and Indonesia. The media giant also successfully used its platform Tiktok to promote the first app. The users were offered to listen to the full version of the song upon clicking on it within the app.
Moreover, in November 2021, Resso already passed 40 million monthly users across the said countries. Its growth is much faster than that of the well-known streaming platform Spotify which reached only 38% growth between January 2021 and 2022.
With such great potential, ByteDance can pose a real threat to Apple Music and Spotify, which don’t seem to be doing that well lately. This China-based company has a lot on its hands, including millions of users that will be ready to support their favorite creators.
TikTok Music can become a new way for everyone to listen to and explore different artists. For now, we don’t have any details about the actual goals of ByteDance since the company didn’t release official statements about the future of TikTok Music.
Do you think Tiktok Music will become a global streaming platform? What can other companies do to avoid the threat? Please, share your thoughts with us in the comments below.