Music streaming

ByteDance, Owner of TikTok, Prepares New Music Streaming App in China (Report)

TikTok owner ByteDance plans to launch a new music streaming service in China later this year.

The music service, currently under development, is called “Luna” internally and is tentatively named “Feilo”.

It is according to the newspaper 36Kr, who, citing “several independent sources”, reported this week that the team behind Douyin, the Chinese version of TikTok, is overseeing the construction of the new app.

ByteDance started work on the app in 2019 according to 36Kr, who writes that the company also previously launched a service codenamed “W” nationally, which supposedly “ended in failure due to a severe lack of copyright and vague positioning of the product during the development process ”.

The reported development of ByteDance’s new app follows news that Tencent Holdings and its majority-owned music arm, Tencent Music Entertainment, have terminated all exclusive deals with global labels in China after being struck down. ‘An exclusivity ban by China’s State Administration of Market Regulation (SAMR) in July.

The new department will be led by Alex Zhu, vice president of products and strategy at ByteDance, according to 36Kr.

ByteDance will seek licensing deals for the new app with record companies, but will also seek to work with independent artists.

Showcasing independent artists on the service who are not on competing services will be a key differentiator for ByteDance’s new app, according to one of the 36Kr sources.

In July, TechPlanet reported that ByteDance was testing a music distribution service for independent artists called Yinhefangzhou, or Galaxy Ark.

ByteDance launched a music streaming service and rival of Spotify in India in March 2020 called Resso.


In July, Tencent was fined 500,000 yuan (approximately $ 77,000) by SAMR and 30 days to renounce its exclusive deals in China, following an anti-trust crackdown in the country. .

TME was investigated in 2019 for entering into exclusive licensing deals with the three major record companies in China.

As reported by the South China Morning Post in July, the company, which hosts music streaming services including QQ Music, Kugou Music and Kuwo Music, is still allowed to keep its exclusive deals with independent artists, with a three-year limit for such deals.

According to Tencent’s announcement, the company waives the right to enter into exclusive agreements with music copyright holders “except where the period of exclusive cooperation with independent musicians does not exceed three years, and the exclusive release period for new songs does not exceed 30 days “.Music trade around the world


Source link

Leave a Reply

Your email address will not be published. Required fields are marked *