A Chinese private tech company, based in Beijing, ByteDance Ltd, has reportedly filed a trademark application for the phrase “TikTok Music”.
According to a report by Business Insider, the parent company of TikTok filed an application for trademark in Australia in November 2021 and recently in ates in the month of May. Even though there has been no official confirmation from TikTok or ByteDance Ltd regarding the trademark application or the phrase “TikTok Music”, the business world is assuming that the company is planning to venture into the market of online music streaming.
The trademark filings state that the application consists of the use of phrase for providing various goods and services including a mobile app, play, share and downloading of music, songs, and albums to name a few.
The application also hints at the fact that in the new platform, users would be able to create and manage various digital content such as music, photographs, and videos.
Users would also have the ability to use the platform to live stream their content, release podcast content and even conduct radio broadcasts. Even a feature related to karaoke is expected to be part of the new music streaming platform.
Resso by ByteDance Ltd
This is not the first time ByteDance Ltd is entering into music streaming business. The multinational tech company already owns and operates a social music streaming app named Resso. Resso was launched in 2020 and is currently present in three countries, India, Brazil, and Indonesia.
By signing licensing agreements with big shots in music industry such as Sony Music Entertainment, Merlin and Warner Music Group, Resso is one of the most competitive music app alongside other music streaming platforms.
Resso allows its users to share the lyrics of songs, highlight parts of songs and even comment on the music tracks.
Even though TikTok was banned in India during Galwan skirmishes between Indian army and Chinese army, Resso which is owned by ByteDance Ltd was not banned in the country.
With the launch of all new TikTok Music into the music streaming industry, ByteDance would be going horn to horn against industry heavyweights such as Spotify, Gaana, and Apple Music to name a few.
Spotify and Gaana has been dominating south and southeast Asian markets for a long time with attractive offers and discounts. Apple Music on the other hand has been banking on the increasing number of iPhone users in the region.