Signing out of account, Standby…
The social media’s parent company, ByteDance is reportedly planning to integrate its existing music streamer with hit-maker TikTok.
You might have discovered — and danced to — new music on TikTok.
TikTok has spawned viral hits such as “abcdefu,” by Gayle and “Say So” by Doja Cat. Music labels have even reportedly forced their artists to make TikToks, and accusations have been rife against “industry plants” on the app.
Now, the social media platform’s parent company is leaning into its ability to boost music by potentially integrating the streaming service it already owns (but is not available in the U.S.) with TikTok, as well as meeting with music labels about plans to expand its streamer’s reach, according to a Wednesday report from the Wall Street Journal.
ByteDance, the Beijing-based parent company of the popular short-form video app TikTok, already operates a music streamer, called Resso. It’s available in India, Brazil, and Indonesia.
But ByteDance hopes to make Resso a part of TikTok, the WSJ reported, citing “people familiar.” Expanding its streaming music services — perhaps under the moniker “TikTok Music,” which Insider first reported in July it had filed a patent for — will make it a competitor to Apple Music and Spotify.
Spotify’s shares dipped on the news, Yahoo Finance reported.
TikTok claimed last July that 75% of its users find new musical artists through the app.
Tiktok launched in 2016, in the form of Musical.ly, where people lip-synced music in videos, and has since run where Vine walked, pushing a focus on short-form videos on competitors like YouTube and Meta. The companies have developed Shorts and Reels, respectively.
This is the second piece of news this week about TikTok’s expansion into more industries. The social media service is looking into building its own e-commerce and fulfillment operation, Axios reported Tuesday.
Elon Musk said he wanted to use Twiter, a company he is slated to acquire, to make the “X” everything app, like WeChat in China.
TikTok might be barrelling ahead of him, at least in the U.S.
When His Grandfather’s Farm Was Destroyed By an Invasive Plant, This 17-Year-Old Entrepreneur Came Up With an AI-Powered Solution
Avoid Nightmare Employers and Scams By Job-Searching Like a Journalist
Be the CEO of Your Personal Life in 7 Simple Steps
This Curly Hair Expert Now ‘Cuts’ Hair Online Only — And Says She Is Making More Money Than She Ever Did in a Salon
How to Craft the Perfect Recipe for Persuasive Storytelling in Your Presentations
This Founder Needed to Pivot — Hard — After a Cancer Diagnosis. Now, Her Bootstrapped Makeup Brand Is On Track to Be in 600 JC Penney Stores.
Inflation Is Impacting Some Franchisees More Than Others, But All Are Hurting
Amanda Breen
Roman Kumar Vyas
Entrepreneur Deals
Subscribe to our Newsletter
The latest news, articles, and resources sent to your inbox.
I understand that the data I am submitting will be used to provide me with the above-described products and/or services and communications in connection therewith.
Read our privacy policy for more information.
Copyright © 2022 Entrepreneur Media, Inc. All rights reserved.
Entrepreneur® and its related marks are registered trademarks of Entrepreneur Media Inc.
Successfully copied link