Whichever side of the fence you fall when it comes to TikTok, the social media platform is aiming to do more than simply make meme-filled videos. To that end the Financial Times (paywall) is reporting that the platform is reading to make its own on-demand music streaming service.
More specifically the company that owns TikTok, ByteDance, is said to be working on a financial model in which the service would cost less than that of Spotify or Apple Music. Added to this, given the way that TikTok works, it is also said to integrate the shareable video clips that made the app so popular into the streaming service.
Whether that would be a tempting enough hook to get users onto the platform remains to be seen, as is official comment from TikTok or ByteDance that it does indeed have designs for its own streaming service.
That said, the Financial Time’s sources say ByteDance is currently in talks with recording labels such as Sony, Universal and Warner in order to licence their music catalogues. As for when it could launch, the service could be up and running by December this year, with territories like Brazil, Indonesia and India being earmarked for launch.
The real test though is how such a streaming service would perform in countries where the likes of Spotify and Apple Music have a strong subscriber base. For now though, we’ll need to see if those reports are indeed true and whether TikTok plans to diversify its offerings.