ByteDance—the owner of the famous app TikTok, which allows short video clips’ sharing—is planning to compete with Spotify and Apple Music in the near future. A recent report states that ByteDance is planning to undercut present streaming music services and aims to enter into worldwide contracts with music labels. Besides, the report states that the U.S. market is on the priority list of ByteDance.
ByteDance has taken strong initiatives and is in discussions with big names in the music industry including Sony Music, Universal Music, and Warner Music. The firm aims to achieve international licensing agreements, which will allow it to incorporate the songs from these companies on its latest music subscription service, the report says.
The technology firm from Beijing is planning to introduce its services in the upcoming month, with Indonesia, Brazil, and India as its initial target markets. Later, the firm aims to enter into the U.S. music sector. At present, TikTok is used by about a billion worldwide customers, with 80 Million US population downloading the app. This allows the firm to present its latest streaming music service to a huge number of the worldwide population. Reportedly, ByteDance might incorporate fun-sharing options within the latest app. Besides on-demand music, the users of the upcoming app by ByteDance might be offered a collection of short video clips. They will be allowed to search through this collection and synchronize these short clips with the songs they are listening to, the report added.
On a similar note, ByteDance-owned TikTok recently announced that various links to the e-commerce sites can be added by the app users in their profile biography. Besides, the users will be allowed to easily redirect their viewers to shopping websites via the social media platform. The latest efforts taken by the firm intend to advance the app’s user experience. A spokesperson from ByteDance stated, “We always welcome experiments and latest methods to advance the app experience for our users. We aim to find out new techniques to bring joy, inspire creativity, and add value for the community we live in.”