29 June 2020
TikTok owner Bytedance is steadily stepping into some of the fiercely competitive fields. It recently launched its first smartphone Smartisan Jianguo Pro 3 with multiple cameras and now it is tapping an area that is hot and trending. Going by the latest report of the Financial Times, ByteDance could launch its own music-streaming service in the market to further increase the ferocious competition.
ByteDance is reportedly already in talks with big music labels- Universal Music, Sony Music, and Warner Music for global licensing deals so that it could include their songs on its new music subscription service.
This music streaming service which currently has no name could launch as soon as next month. It will first reach the markets such as India, Indonesia, and Brazil, before a wider opening in the United States.
The report states this service will include a library of short video clips for listeners to search through and synch to songs as they listen.
No other specifics have come to notice or reported yet, but expect the alleged streaming service from ByteDance to include similar functionality as we see in the existing services. It is also unknown how much the cost of the subscription will be set, although it is expected to cost less than the $10 a month charged by Spotify Technology.
ByteDance is a Chinese Internet technology company which is operating several machine learning-enabled content platforms. It is possible that the company will make use of its expertise in its yet-to-come music streaming app as well. Recommending songs or podcasts based on your favorites isn’t new to this field, but we are yet to see how ByteDance which specializes in this segment will help in curating the list of songs to the listeners.
ByteDance touts its smart recognition technology which is active on its several content platforms. ByteDance states that technology helps the platforms to learn about each user’s interests and preferences through interactions with the content that include likes, dislikes, comments, reports, and follow. “The more users interact with content, the more relevant and engaging the experience becomes.”