TikTok's roof company with you yesterday bytedan byWe shared the news that Flipchat, the Messenger-like instant messaging application, introduced Feiliao as its original name. According to the news today, ByteDance is creating its own digital streaming platform like Spotify. Apparently the company is not only a rival to Messenger or WeChat, it also sees its eyes on different platforms.
According to Bloomberg, the Chinese-based technology company ByteDance says it will target services in emerging markets such as India, and the service will start over the months. Please note that users have to pay for access to ByteDance's music service. However, when we consider the royalty fees between these music services and artists, it does not come as a surprising information. This means that new royalties can be paid in the new service compared to free platforms.
ByteDance is currently India's two largest record labels T-Series and Times Music shared with the agreement. More than 100 ByteDance employees are the world's largest record companies Warner Music, Sony Music and Universal Music Although it has not yet signed an agreement with the companies, it is the target of ByteDance. If these agreements are signed, we can say that a highly competitive platform for Spotify and Apple Music will be waiting for us.
The viral video application TikTok, which allows ByteDance to share short videos that are popular among young people and that bring music to the background, proves that the popularity of songs can significantly increase. Although it is unclear what this will benefit the new music platform, we can say that it will reach to an important audience based on TikTok, which has an average of half a billion users all over the world.
Visual Source: Photos