ByteDance, TikTok's parent company, has filed a trademark application in the US for TikTok Music.
👉 Background: We all know TikTok, the painfully addictive social media app and absolute behemoth that has over 3 billion downloads globally. It was also the fastest app ever to hit the 1 billion mark.
👉 What happened: Now ByteDance, TikTok's parent company, has filed a trademark application in the US for TikTok Music.
👉 What else: ByteDance already has a music streaming service in India, Brazil and Indonesia called Resso. So now that TikTok has successfully dominated short form video, it might be on the lookout to do the same with music streaming.
💡TikTok has changed the music industry by surfacing new tunes and re-surfacing old tunes.
💡And these songs don't just trend on TikTok, they trend on the radio and in clubs too. In fact, 175 songs that trended on TikTok in 2021 ended up trending on the Billboard Hot 100 too.
💡 But right now, Spotify and Youtube get all the streaming revenue rewards... So TikTok may be thinking 'we're doing all the hard work already, so we may as well get a financial reward for our efforts.
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