TikTok Music is entering the streaming market. The platform aims to combine social features and music listening.
Although it seems difficult to enter the music streaming market in 2023 and Spotify and Apple Music are strong competitors, TikTok announces its arrival in the field. Named TikTok Music, the app relies on aficionados of the eponymous social network to take their share of the cake.
When streaming is inspired by social networks
If TikTok Music works very similarly to other streaming services, namely access to a complete catalog of musical titles and the creation of playlists, the company has a well-crafted strategy to attract teenagers. The application recommends songs in a personalized way based on the music that has gone viral on the videos of the social network TikTok.
Some additional features are added to TikTok Music, such as collaborative playlists, the identification of a title by audio fingerprint like Shazam does or even the search for a song by entering lyrics. The algorithm offers users the opportunity to discover new titles by scrolling vertically, maintaining the same functioning as the company’s social network. To stand out from the competition, this new platform adds an additional social dimension by letting its users comment publicly on the albums and the tracks that compose them.
Price and launch in an already well-established market
On the launch and pricing side, TikTok Music is currently available in Brazil and Indonesia. As for the Latin American country, the monthly subscription is offered there at $3.49, which corresponds to the price charged by Apple Music in this country. The rates of streaming platforms vary very frequently depending on the target markets in order to make them more financially accessible. For comparison, this same subscription offered by Apple is billed at $10.99 per month in the United States.
Despite its undoubted success as a social network, it is difficult to say whether TikTok Music will find a place in the streaming market. The competition is fierce: Spotify takes first place on the world podium with 200 million subscribers, followed by Apple Music and its 80 million users. While the popularity of the TikTok social network will probably give it a good boost, establishing itself in such a market is a daunting task.
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