Author: Kelly Hills
Music is creative TikTok users adore and promote. Several musicians have gained exposure to their songs; thanks to the platform.
As a result, it would not be surprising if the company also released a music streaming app. According to some sources, TikTok looks to be developing just that.
This article will discuss the TikTok Music app and why it may soon compete with Spotify and Apple Music.
What You Need to Know About the TikTok Music App
In May, the parent company of TikTok, ByteDance, submitted a trademark application to the US Trademark and Patent Office for the term “TikTok Music.” The service would let users download, share, play, and buy music. Users will also be allowed to recommend, share, and make playlists with it as well.
TikTok Music users can also live stream video and audio, and comment on the music.
According to The Verge, ByteDance which is the parent company of TikTok once submitted a trademark application for TikTok Music in Australia.
The parent company has experience with music streaming. Bytedance released a booming music application called Resso in 2020, and it’s accessible to users in Indonesia, Brazil, and India.
Some of the features included in Resso may be included in the upcoming TikTok Music app.
As of November 2021, the music streaming service had about 40 million active users from Brazil, Indonesia, and India.
It’s unclear whether ByteDance intends to build the music streaming application using Resso’s framework or create something new.
TikTok Music vs. Spotify and Apple Music
While rivals such as Apple Music have made significant strides in the sector, Spotify continues to rule the streaming throne. Apple Music owns about 15% of the market, while Spotify holds approximately 31%, according to subscription data analyzed by market research firm MIDiA in June 2021.
That means that neither YouTube Music nor Amazon Music, nor even Apple Music, have been able to dethrone Spotify as the leading music streaming service.
Therefore, if a rival emerged, it would have to be a business with substantial financial resources and a more extensive user base, like TikTok.
To be accurate, the existence of the patent does not necessarily indicate that TikTok Music would completely disrupt the music streaming market, but it stands a chance.
In addition, ByteDance isn’t the only business to desire a piece of this music streaming pie, but it may be the first to be in a strong position thus far.
It’s also conceivable that ByteDance may charge less than both Spotify and Apple Music and will gain popularity among a younger demographic. Due to these factors, it is reasonable to anticipate some competition from the TikTok Music app.
ByteDance, TikTok’s parent company, is not new to the music streaming sector, having built the popular Resso music app in India, Indonesia, and India, with over 40 million users. While Spotify and Apple Music are well-known names in the industry, TikTok Music may provide more reasonable pricing and appeal to a younger demographic. It has the potential to compete with Spotify and Apple Music.