In an increasingly competitive music streaming market dominated by Apple Music and Spotify, a new contender is emerging: TikTok Music. The creators of the immensely popular social network now have their sights set on competing with the industry leaders, as they introduce their very own music streaming platform.
TikTok Music mirrors the functionality of other music streaming services by offering users access to an extensive catalog of songs that can be added to personal libraries. Initially, TikTok formed partnerships with major record labels such as Universal Music Group, Warner Music Group, and Sony Music to secure a robust collection of tracks.
The announcement is not actually a big surprise, since TikTok’s parent company ByteDance had already applied to U.S. Patent and Trademark Office in May 2022 for the TikTok Music service name. However, what now draws attention and excites users is the potential success of the new service.
What will make TikTok Music so great?
To make the platform particularly appealing, especially to the teenage demographic, TikTok Music goes beyond basic streaming services. It provides song recommendations and personalized curation, helping users discover tracks that have gone viral in TikTok videos. Collaborative playlist creation, music library imports from other platforms, and lyric-based song searches are among the additional features available.
Furthermore, TikTok Music incorporates a song identification function akin to Apple’s Shazam. The platform also encourages social interaction, allowing users to comment on songs and albums. Interestingly, the app features a vertical scrolling discoverability feature, reminiscent of the main TikTok application, facilitating effortless song suggestions.
Limited availability
However, there’s a caveat. Presently, TikTok Music is exclusively available in Brazil and Indonesia. In Brazil, the monthly subscription fee is set at $3.49, equivalent to the cost of an Apple Music subscription in the country. Pricing adjustments are often made by streaming platforms to cater to each market’s affordability. For instance, Apple Music in the US is priced at $10.99 per month.
It is reported that TikTok expressed its enthusiasm for launching a novel service that “combines the power of music discovery on TikTok with a best-in-class streaming service.” Nevertheless, there is no official information regarding the platform’s rollout in other countries, including the highly influential US market.
Can TikTok Music compete with giants like Apple and Spotify?
Challenging the dominance of Apple Music and Spotify will undoubtedly be a difficult task for TikTok Music. A recent report unveiled that Spotify remains the most popular music streaming service in the US, boasting over 44 million paid subscribers. Apple Music follows closely with 32 million paid subscribers. On a global scale, Apple Music has amassed more than 80 million subscribers, whereas Spotify boasts approximately 200 million subscribers.
In addition, thanks to already being established and loved platforms, Spotify and Apple Music are already developing and looking for ways to increase the admiration of their users, with features like Spotify’s AI purge and OnlyWaltz, Apple Music Classical.
Introducing Apple Music Classical, the new app designed specifically for classical music. Pre-order today on the @AppStore. https://t.co/lwnF4Dx4ua pic.twitter.com/F8uMKMVm2i
— Apple Music Classical (@AppleClassical) March 9, 2023
While today’s announcement does not explicitly mention podcast and radio content, a trademark application filed by ByteDance last year hinted at the possibility of offering users podcast and radio broadcast content on the platform. If TikTok Music were to incorporate podcasts alongside its music library, it would undoubtedly pose a significant challenge to Apple Music and Spotify, further solidifying its position as a major competitor in the music streaming industry.
The success of TikTok in this already-established market remains uncertain, especially considering the platform’s restricted availability and comparatively higher prices. However, the widespread recognition of the TikTok brand may contribute to its adoption among dedicated users of the social network, potentially propelling its growth within the music streaming industry.
Featured Image: Image via TikTok
