TikTok has made the decision to shut down its music streaming service, TikTok Music, marking the end of its attempt to directly enter the competitive music streaming market. The closure, set for November 28, 2024, signals a strategic shift for the social media giant.
Key Points of the Announcement:
Closure Date: TikTok Music will cease operations on November 28, 2024.
Refocusing Strategy: TikTok aims to concentrate on enhancing its role in driving music listening and value on existing music streaming services.
Industry Benefit: The company states this move is intended to benefit artists, songwriters, and the broader music industry.
Background of TikTok Music:
- Original Launch: Debuted in India in late 2019 under the name "Resso."
- Rebranding: Renamed to "TikTok Music" in 2023.
- Market Presence: Operated in Brazil and Indonesia, with beta testing in Australia, Mexico, and Singapore.
Challenges Faced:
- Limited User Interest: Despite TikTok's popularity, its music streaming service struggled to gain significant traction.
- Regulatory Issues: Banned in India earlier in 2024, possibly due to its association with TikTok.
- Competitive Market: Difficulty in competing with established music streaming platforms.
- Licensing Disputes: Faced challenges in securing music rights.
All functionalities, including login and subscriptions, will be unavailable after the closure date. Users are advised to make necessary arrangements regarding their accounts and subscriptions.
TikTok plans to focus on leveraging its main app to support the music industry, likely through its existing features that have already shown significant impact on music discovery and promotion.
This closure represents a significant pivot in TikTok's music strategy, moving away from direct competition in the streaming market to a more supportive role within the broader music ecosystem.
