Music streaming space in India has been crowded recently with new players like Spotify and YouTube Music entering the game. India already has music streaming services like Gaana and JioSaavn, and Spotify and YouTube music’s entry to space has rendered the Indian Music streaming segment competitive.
Now, ByteDance, the parent company of TikTok, is working on a music streaming service, similar to Spotify.
In order to understand what ByteDance is building, we would first need to figure out what Spotify is or what makes it so special in terms of music streaming service. Compared to other music streaming apps, Spotify is preferred because of its recommendation algorithm, including daily and weekly mixes and discovers.
Spotify, which saw its advent in Sweden and since then has turned out to be the largest music streaming service in the world, goes beyond streaming music and has its roots deep into machine learning and AI. The app takes cues from the behavior of its users and uses that data to recommend songs and music that might suit the kind of music the users are interested in.
ByteDance itself is a $76 billion-value company in China and has been divulging highly in machine learning and is constantly working to develop and integrate AI into its products.
TikTok, a short video making app from ByteDance, has been topping charts globally more often than not.
According to a South China Morning Post’s source, currently, 100 people are working on ByteDance’s version of the music streaming app.
The app is slated to launch soon and the launch of the app might prove to be an important development globally, as the app might pose competition to the existing players in that space.
This is equally important in the context of India, as the company recently revealed its plans to $1 billion in India business, counting it as one of its largest markets.
TikTok recently got banned in the country due to its non-compliance of the Indian policies like opening a local office in the country and the company’s inability to regulate offensive content on its platform. Given this, ByteDance might release the music streaming app in India as one of the larger areas of investment.
With the launch of its music streaming app, ByteDance might be looking forward to tapping into the lucrative market of music streaming in India, which is still in its developing form and has been accelerated with the launch of Spotify and YouTube Music.
Not to mention, the Chines companies in India have been dominant in tier 2 and tier 3 cities. This segment is difficult to completely capture in an app given India has a large diversity of local music content and topping it with insurance of the distribution to the right place, it becomes more difficult.
If ByteDance, with its vast resources and accessibility to advanced technology, happens to come up with a music streaming service that relies on machine learning and AI, it might disrupt the market.
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