ByteDance, the company that owns TikTok, has been in the news a lot lately. From its international success with the short-form video app to a new social commerce connection, ByteDance has their eye on bigger and better things — and an on-demand music streaming service is next.
According to Financial Times, Byte Dance is planning to launch a new streaming service linked to social media. The app will include short video clips that can be synced to songs and shared, and is supposed to be less expensive than Spotify, Apple Music, and other streaming services.
Reportedly, the company is negotiating with Universal, Sony, and Warner to license their music catalogs for the new app. And they could be ready to launch as soon as December in Brazil, India, and Indonesia — though it might be a little while before it hits the US market.
When they do, it’s hard to know how successful a new music streaming service will be. Though it will be linked to the very popular TikTok, most TikTok users already have an existing subscription to streaming giants like Apple Music and Spotify, which can be used in the app’s video clips.
It will be a challenge to get users to switch over to an unknown music streaming service, but if anyone can, it’s ByteDance. The company shot to success in a matter of months, now boasting over one billion users on TikTok around the world.
