ByteDance, The mother company of TikTok, is working on a mew music streaming app that will be released before fall.
The app will be ‘freemium app’ available in premium version and also with a free version that will ads supported. the launch of the free version of this app could be very beneficial in India, where most of the users resort to free versions of the streaming platforms. In fact, of the 150 million people who use these apps, only a small part does so through paid subscriptions.
The company is already in talks with two music labels, Times Music and T Series, for the purchase of music rights in India.
In China alone, TikTok works hand in hand with more than 800 music labels and the app has already expressed its willingness to get independent musical talents to make their own songs. The bet of ByteDance to enter the streaming market is not mere coincidence.
Most of the publications made in the app use music clips to complement the videos, so the company already works with multiple music labels worldwide paying for music rights.
Tod Schefflin, director of the musical area of TikTok, already expressed in an interview that music is part of the “creative DNA” of the company, so it is not surprising that this is the next bet of ByteDance in terms of services.
The goal of the Chinese technology is that this new app allows them to cover a market niche in underdeveloped areas where major brands such as Apple Music and Spotify have not yet managed to penetrate.
Specifically, ByteDance’s efforts will focus on serving the Indian market, where its apps exceed 300 million active users every month. In this sense, the company is already negotiating with two Indian music labels, Times Music and T Series, for the purchase of musical rights.
The advances of ByteDance in the region could be an opportunity for the company to clean up its image after the government banned TikTok for allowing the dissemination of pornographic content on its platform.
Trendnations.com.ng earlier reported that Facebook deleted over 3 million false accounts, 11 million terrorist related publications, 1 million weapon and ammunition sales publications, and 1.5 million drug sales publications.
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