As the competition in music streaming service intensifies, tech giant companies have been wanting to top the industry. Spotify, Amazon, and Apple are just one of the companies committed in the service.
ByteDance, TikToks’s parent company is another enterprise to invest in service as it plans to launch its own version of the platform. ByteDance first announced its plan back in early April.
Spotify, the world’s leading music streaming service app is most likely to be the biggest rival of ByteDance. According to the people familiar with the matter, the new app will not be a clone of Spotify or Apple Music. It offers both premium and ad-supported free tiers. ByteDance’s music streaming service will specifically consist of on-demand songs and videos. The said app is rumored to launch at the end of this quarter.
With the launch of its own music app, ByteDance is planning to convert some of its TikTok users to also use the music streaming app.
ByteDance told Bloomberg that it plans to roll out the app in countries where other paid music services have a few paid users. So far, ByteDance has already secured rights form T-Series and Times Music, two of the largest labels in India.
ByteDance has been continuously expanding its portfolio. The company has launched a video chat which they call “Duoshan“, a combination of Snapchat and TikTok. ByteDance recently launched a chat app called Feiliao (Flipchat in English).
The world’s most valuable startup company, valued at more than $75 billion, has more to offer. Soon, ByteDance will be one of the most dominating internet technology company in the world!