Music Streaming: TikTok Publisher May Soon Launch - The360 Technology

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  • Thursday, December 26, 2019

    Music Streaming: TikTok Publisher May Soon Launch

    Music Streaming: TikTok Publisher May Soon Launch

    The platform of the Chinese giant ByteDanse could make its appearance in December while the music streaming market already has many competitors.

    The music streaming industry could soon have a major player. The Chinese ByteDanse, publisher of the popular mobile application TikTok, would consider creating an online music platform similar to Apple Music, Deezer or Spotify.

    In May, Bloomberg announced a fall launch. The Financial Times, quoted by Les Echos, speaks this Sunday of an arrival of the site in December.

    First in India, Indonesia and Brazil

    The world leader in song streaming services, in number of users, is already Chinese. This is Tencent Music Entertainment, which appealed to customers in Asia and proved that this type of product could be very successful in this part of the world. With its popularity around the world through TikTok, ByteDanse intends to offer its new offer in many countries.

    The company valued at 75 billion dollars (a little more than 67 billion euros) should first launch its application in India, Indonesia, Brazil and other emerging regions before starting the conquest of United States.

    Ongoing negotiations

    The portal should offer audio content created by the users themselves, including music videos or parodies, but also songs or videos from other companies' catalogs.

    Negotiations are underway between the Chinese giant and record companies and music rights holders. ByteDanse is for example in contact with Universal Music, Sony Music and Warner Music for the acquisition of internationally broadcastable titles via its platform.

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