It’s the year 2020 and absolutely everyone is making a streaming service, including TikTok.
The budding social network is hard at work inking licensing deals for its upcoming music streaming service, Resso, that will compete against Spotify and Apple Music. TikTok owner ByteDance reportedly struck a deal with the agency Merlin, which represents tens of thousands of artists, paving the way for the company to launch its music app globally.
Shifting focus from being a video-sharing app to creating a music platform may seem like an odd move for TikTok. But after months of binging on TikTok videos, I’m convinced it could become the biggest threat to Apple Music and Spotify.