The Strategist

TikTok to compete with Spotify in music streaming

10/14/2022 - 10:12

ByteDance, the owner of TikTok, reportedly has ambitions to develop and include a short video streaming platform into its Resso music streaming business.

Solen Feyissa
Solen Feyissa
In order to compete with international streaming services like Spotify, the Chinese business ByteDance, which owns the TikTok platform, has started discussions with major record labels about establishing its own music streaming service, Resso, reports The Wall Street Journal.

ByteDance wants Resso, which is only now offered in Brazil, India, and Indonesia, to be merged into TikTok, which will eventually become a global music streaming service.

The corporation first intends to expand the resource to at least ten additional nations. WSJ sources claim that the service's expansion will not yet be tested in the United States.

After Resso was integrated, users could quickly store music they had heard on TikTok to their libraries and locate tracks that were similar, according to ByteDance. Business Insider notes that 75% of TikTok users find new music and artists through the app, but they don't listen to it until the firm opens its own international music streaming service.