TikTok has revolutionized the enjoyment of music. We have said it and heard it often. But this time ByteDancethe Chinese company behind the popular social network, has leapfrogged into the market musica in streaminglaunching a dedicated platform: TikTok Music.
The announcement came after months (actually more than a year) of speculation. The project had in fact been held back by the age-old issue of music licenses. Despite this ByteDance has not lost heart, and after a long negotiation with the major record companies now seems to have reached an agreement.
What we know about TikTok Music
TikTok Music will be a service paid only (in the wake of Apple Music) and will be launched as a test in the coming weeks only Indonesia and Brazil. The choice of countries may indicate that ByteDance has reached satisfactory distribution agreements in the two chosen territories. The current climate of distrust of European and American legislators towards Chinese society should not be underestimated. In short the arrival of TikTok Music in Europe and the USA does not seem to be imminent.
Those who subscribe will be able to listen online and offline to the entire music catalog already present on TikTok. The prices of the subscriptions have not yet been disclosed, but we know that it will be possible to benefit from the “first month free” formula.
The new service will replace Resonancea ByteDance music streaming platform that has never been too successful in Europe.
How will the streaming music scenario change?
The announcement of the new platform represents a decidedly important move for ByteDance, and beyond. Currently TikTok is one of the most important platforms for the music marketalthough it’s not really a streaming service (in fact, it’s not at all).
Despite that the Chinese social network is the largest music trend aggregator, with its ballets and viral content. In short it is one of the main sources of discovery of new musicand artists and record companies know this well.
The arrival of a streaming music platform connected to TikTok could therefore rock the waters of an ocean currently dominated by Spotify, Apple Music and Amazon Music.
“We are excited about the opportunities TikTok Music presents for both music fans and artists, and the great potential it has to generate significant value for the music industry,” he said. Be Obermann, global head of TikTok’s music business development (via Variety).