The Tiktok music streaming space is soon to have a new face in the market. TikTok owner, Beijing Bytedance Technology Co Ltd, is reportedly in talks with music labels like Universal Music, Sony Music, and Warner Music to obtain the global licensing of their songs as it plans to launch its music subscription service.
This Tiktok music streaming service is slated to be launched by the next month in markets such as India, Indonesia, and Brazil, which are one of the biggest markets for the company. After a successful launch in these markets, the service will be launched in the United States. The company is yet to decide on expanding its base to the untapped markets of some other countries.
In the TikTok Music Streaming Service, besides listening to music, users will also be able to watch various video clips, which they will be able to sync with the songs. Though the app hasn’t been given a name yet and it’s not yet clear what kinds of pricing options it will provide the users. Apart from the paid option, it is also supposed to come up with a free streaming plan, considering most of the market base of the prefers this option.
The app will surely face tough competition from the likes of Spotify Technologies SA, Apple Inc, and other companies in the United States. Keeping this in mind, the price is expected to be lesser than the $10 charged by the above two services currently.