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1
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· Posted on
February 21, 2024

TikTok launches new music service to compete with Spotify... and this could be the new rivalry to take on Zuck vs Musk

TikTok is stepping into the arena with Spotify and Apple Music by releasing its own music streaming service.

What's the key learning?

  • TikTok Music is subscription-only and using cross-platform integration, a strategy used by businesses to provide their existing users a great experience across different features.
  • This music streaming service will lead to increased engagement and customer loyalty, and also increased revenue down the track.
  • Meta did the same thing by leveraging Instagram's huge audience to get the quick growth on its Threads app.

👉 Background: TikTok is already reigning supreme in the short-video market. We're talking over 1 billion monthly active users. But the Tok ain't gonna rest on its laurels.

👉 What happened: Now, TikTok is launching a music streaming service, "TikTok Music", stepping into the arena with Spotify and Apple Music. Here's how it works:

  • It's subscription-only (yep, no free membership option)
  • It's using cross-platform integration to sync to existing TikTok accounts
  • It has collaborative playlists and a song-identifying Shazam-like feature

👉 What else: For now, this service will only be available in Brazil and Indonesia, but could launch globally later this year.

What's the key learning?

💡Cross-platform integration is a strategy used by businesses to provide their existing users a great experience across different features.. Or even platforms.

💡Not only will this lead to increased engagement and customer loyalty, but also increased revenue down the track.

💡The Tok isn't the only company with enormous reach to do this recently - Meta leveraged Instagram's huge audience to get the quick growth on its Threads app too.

‍

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