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As early as December TikTok music might be your goto app with the plan on taking on Apple and Spotify music streaming services.
Goodbye Musical.ly, hello TikTok was the slogan in 2018 when the then video-sharing/karaoke app rose to popularity. With a milestone of 178+ million monthly users worldwide according to xitetech.com, the parent company ByteDance has released a larger strategy. Utilizing music artists to break into the global markets alongside the approach to music partnerships with the independent music distribution company Distrokid, this is what it has come to.
The parent company to TikTok is planning a release of their own music streaming services. Which might be the edge that KPop needs to take over globally. As if it hasn’t already. It’s noted that BTS among other KPop groups are quickly racking up followers on the app that boasts that 90 percent of all TikTok users access the app on a daily basis. This is the opportunity for ByteDance to monetize the app at a $10 a monthly charge. Which in turn rivals Spotify and Apple Music streaming serves. According to the Financial Times. I doubt it’s going to be called TikTok music but it wouldn’t hurt to combine them both.
TikTok music is the third-most downloaded non-gaming app of the year, behind WhatsApp at the top with 707.4 million installs and Facebook Messenger at second spot with 636.2 million. Facebook is fourth with 587 million downloads and Instagram at fifth spot with 376.2 million.