ByteDance, TikTok’s parent company is set to launch a music streaming service in India in January 2020. The service will also feature a paid subscription service and a video sharing platform.
The Chinese based company has been in the news all year for both positive and negative reasons. However, the company whose primary audience is video enthusiastic young people continues to expand as stats show. Their views and number of users are on an exponential climb.
TikTok will roll out the subscription-based music streaming service by next month although it still hasn’t given it a name.
With this decision, the company is entering into an already saturated market that includes Spotify, Apple Music, and others. Reports online also claim that Bytedance is trying to get licensing deals from Universal Music, Sony Music, and Warner Music.
ByteDance will try to differentiate its own service with the aid of short videos. Users can share clips with other users in order to create more viral videos. The video can also help find music on the app’s library.
There is rumour that the service will first come to developing markets like Brazil, India, and Indonesia. However, it will go to the US much later.
Smartisan Nut Pro 3: TikTok Owner ByteDance Unveils Four-Camera Smartphone
Tips For iPhone Photography
Company Shuts Down Because It Spent Too Much On Facebook Ads
Facebook To Rival TikTok’s Services
The subscription prices are still unknown for now, however, it will likely be cheaper than the existing market rates to compete. Informed speculations are that the fee will be around $2 monthly.
It is not yet clear if the service will integrate with TikTok. ByteDance unveiled its first-ever smartphone called the Smartisan Nut Pro 3, which features high-end specs to rival devices from established giants Apple and Samsung in December 2019.
Facebook CEO, Mark Zuckerberg is also reportedly making big market moves. He plans to maintain his lead in the social networking space. Outlining his “plan of attack” for dealing with its Chinese rivals, he mentioned new features within its suite of apps.
Facebook-owned Instagram recently unveiled a new tool they are calling Reels. The feature mimics some of TikTok’s most popular features. Thus, setting a stage for further competition.
Make sure to follow Plat4om on Twitter @Plat4omLive, on Instagram @Plat4om, on LinkedIn at Plat4om, and on Facebook at Plat4om. You can also email us email@example.com. Also, don’t forget to subscribe to our YouTube channel HERE.