TikTok takes on the mu­sic-stream­ing mar­ket

The National - News - - ARTS & LIFESTYLE - The Na­tional

Bei­jing tech­nol­ogy com­pany ByteDance, which owns the video-shar­ing app TikTok, is about to en­ter the mu­sic-stream­ing mar­ket to chal­lenge Ap­ple Mu­sic and Spo­tify. Ac­cord­ing to re­ports in the

Fi­nan­cial Times, ByteDance, which was val­ued by Ja­panese in­vest­ment group SoftBank at $75 bil­lion (Dh275bn) last year, is in talks with big record la­bels, in­clud­ing Uni­ver­sal Mu­sic, Sony Mu­sic and Warner Mu­sic, for global li­cens­ing deals to in­clude their songs on its new mu­sic subscripti­on ser­vice.

ByteDance is look­ing to launch its mu­sic stream­ing as soon as next month, ini­tially in emerg­ing mar­kets such as In­dia, In­done­sia and Brazil, be­fore open­ing in the US.

In ad­di­tion to on-de­mand mu­sic, ByteDance’s app will in­clude a li­brary of short video clips for lis­ten­ers to search through and sync to songs as they lis­ten, the re­port added. Users would also be able to send these clips to their friends, as the app aims to en­cour­age shar­ing and is de­signed for mo­bile phones.

ByteDance has not given a name to its mu­sic app yet

ByteDance plans to launch a mu­sic stream­ing app next year and pric­ing re­mains un­clear, although it is ex­pected to cost less than the $10 (Dh37) a month charged by Spo­tify Tech­nol­ogy SA, Ap­ple Inc and oth­ers in the US. How­ever, Ap­ple is re­port­edly plan­ning to counter this chal­lenge by of­fer­ing bun­dles, in­clud­ing Ap­ple Mu­sic, News+ and TV+ subscripti­ons.

Launched only two years ago, TikTok has been down­loaded 1.5bn times, mak­ing it the third most down­loaded non-gam­ing app of the year, af­ter Face­book’s What­sApp and Mes­sen­ger apps, ac­cord­ing to re­search firm Sen­sorTower.

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