ByteDance, the parent company of TikTok, is developing a music streaming app that will be released before this fall. This app will be available in premium version and also with a free version supported by ads.
“ByteDance is already negotiating with two music labels, Times Music and T Series, for the purchase of music rights in India.”
The bet of ByteDance to enter the streaming market is not mere coincidence. Most of the publications made in the app use music clips to complement the videos, so the company already works with multiple music labels worldwide paying for music rights.
In China alone, TikTok works hand in hand with more than 800 music labels and the app has already expressed its willingness to get independent musical talents to make their own songs.
Tod Schefflin, director of the musical area of TikTok, already expressed in an interview that music is part of the “creative DNA” of the company, so it is not surprising that this is the next bet of ByteDance in terms of services.
The goal of the Chinese technology is that this new app allows them to cover a market niche in underdeveloped areas where major brands such as Apple Music and Spotify have not yet managed to penetrate.
Specifically, ByteDance’s efforts will focus on serving the Indian market, where its apps exceed 300 million active users every month. In this sense, the company is already negotiating with two Indian music labels, Times Music and T Series, for the purchase of musical rights.
In addition, the launch of the free version of this app could be very beneficial in India, where most users resort to free versions of streaming platforms. In fact, of the 150 million people who use these apps, only a small part does so through paid subscriptions.
The advances of ByteDance in the region could be an opportunity for the company to clean up its image after the government banned TikTok for allowing the dissemination of pornographic content on its platform.