TikTok parent ByteDance to launch music streaming service next month

Joanna Estrada
November 18, 2019

According to the Financial Times, the Chinese company is in talks with the three major record labels - Universal Music, Sony Music and Warner Music - for licensing deals, which will allow ByteDance to list all their tracks on its streaming service.

It has been rapidly expanding into new businesses, ramping up recruitment for video game-related positions and unveiling its first smartphone this month.

The Post reported in April that ByteDance was working on a Spotify-like music streaming app for overseas markets. India has always been an important market for ByteDance and TikTok. In fact, it will be fair to say that India has indeed been a driving force behind TikTok and ByteDance's global success.

But the app may not necessarily limit itself to on-demand music.

ByteDance's music streaming service will also include "a short video clip library for listeners to browse and synchronise songs while listening". Further, TikTok's parent company is yet to give a name to its music app. So, it has the advantage to push those customers into regular users of its music streaming service. If the rumors are to be believed, the subscription cost might be less than the $10 (approximately Rs 700) a month charged by Spotify, Apple, and others in the US.

We can soon expect India's growing music streaming segment to welcome a new player from ByteDance.

TikTok downloads across the App Store and Google Play Store in India are almost 466.8 million or about 31 per cent of all unique installs, according to the report. In India, it would have to deal with Gaana, Wynk Music, JioSaavn as well as some of its global competition.

Other reports by Click Lancashire

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