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Tik Tok (Byte Dance) Starting Their Own Music Streaming

Tik Tok (Byte Dance) Starting Their Own Music Streaming service according to this article: https://www.bloomberg.com/news/articles/2019-05-20/tiktok-owner-to-challenge-spotify-and-apple-with-music-service

Drop your thoughts on this topic below

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It won’t do better than Spotify or Soundcloud no doubt.
It seems like a quick money grab, in the article, they referenced them as ‘the creators of tiktok’, so maybe they are trying to build off that fame.

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Interesting article, thanks for posting it. A few things in that article jumped out at me:

ByteDance is already one of the world’s most valuable startups, valued at more than $75 billion in its most recent round of fundraising.

First of all, the parent company of TikTok is called BYTE Dance? I wonder if Dom knew that when deciding on Byte for the app name. Hopefully there won’t be any copyright or trademark issues with the name.

And also: WOW!!! $75 Billion?? That is more than the total value of Facebook and Twitter combined! Which seems absurd to me. I know TikTok has ads, but that seems way over-valued to me.

Another paid service will be music to the record labels’ ears. Universal, Warner and Sony have tried to limited the availability of music for free on the internet. It also presents an opportunity to squeeze ByteDance for extra money. They credit their songs with boosting TikTok’s popularity, and have demanded hundreds of millions of dollars to renew their current rights deals. Those companies won’t grant the rights for the paid music service without sorting out the rights for TikTok as well, the people said.

That’s very interesting, and WOW at the cost of providing copyright music to TikTok users. Hundres of Millions! I’m guessing something like this won’t be practical for the Byte app, at least at the start.

This also just points out how absolutely stupid Twitter was to kill Vine. Twitter is valued at about $4.4 Billion. If they had kept Vine going and improved it, it could have become a huge cash cow for them eventually.

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I dont care that they made their own music company lol i care about byte not tiktok. Im positive i wont use their service anyway lol.

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that’s what I was thinking. I know I’m late to the party when thinking about this topic, but I cant help but think the future of music consumpition is memes, not streaming anymore. The number one at one point was Old Town Road and it got big off of tik tok. A lot of artists are making memes on there to blow up their songs along with various other platforms

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BYTE Dance? I didn’t know that…

But don’t worry, Byte will crush Tik Tok.

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I didn’t even think of it that way till you pointed that out, but I think you’ve got a point. Vine could’ve been tik tok heck it was released before that app even came out.

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If it comes out Im thinking why not upload some music. I make some beats and this could be like spotify or soundcloud when it first released. I think there’s a lot of potential when you’re a first mover

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Im a person who still buys music and sometimes CDs so streaming is weird to me lol. I dont use YouTube for music, or have spotify or pandora lol.

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yup a news article just got released on it. suddenly realized how byte and byte dance have similiar names. very interesting.

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