ByteDance is shutting down TikTok Music globally
Reading Time: 2 minutesByteDance is shuttering its music streaming service TikTok Music worldwide in November, according to its website.
‘We are sorry to inform you that TikTok Music will be closing on 28 November 2024,’ the notice on the site read. The Spotify and Apple Music competitor was available in Indonesia, Brazil, Australia, Singapore, and Mexico.
ByteDance didn’t immediately comment on the development.
TikTok Music was rooted in ByteDance’s product called Resso, which was first launched in India and Indonesia in 2019 and later expanded to Brazil.
In 2023, ByteDance converted Resso users in Brazil and Indonesia to TikTok Music users. Soon after this, TikTok Music expanded to Singapore, Australia, and Mexico. Meanwhile, Resso was banned early this year in India after government orders.
TikTok has become a popular way for people to discover music. It is also a platform that could make artists or songs popular in a short time, driving their streams. A study conducted by TikTok and entertainment data research firm Lumiate said that TikTok has a significant impact on increasing value for artists via streaming and fueling music discovery.
Bytedance, which also owns a music distribution platform called SoundOn, would have wanted to bank on TikTok’s popularity to drive streams within its own ecosystem. But the experiment has likely not worked.
TikTok also has had a shaky relationship with the music industry lately. Earlier this year, Universal Music Group pulled its music catalog out of the service after disagreements over royalties. In response, TikTok called out UMG for ‘false narrative nad rhetoric.’ In March, both parties called a truce and signed a new deal.
Separately, TikTok is fighting a case against a bill that would possibly lead to the ban of the short video app. This might have hampered ByteDance’s plans of expanding TikTok Music to markets like the U.S., which roughly accounts for $12 billion, according to Statista.
Reference: https://techcrunch.com/2024/09/24/bytedance-is-shutting-down-tiktok-music-globally/
Ref: techcrunch
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