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The Future. TikTok is wading further into music by creating a new team focused solely on buying up music rights. If it’s successful in acquiring some catalogs, expect those artists to start getting a boost in discovery from the platform’s algorithm… literally engineering viral hits.
Warning labels
TikTok wants to take over music one deal at a time.
- The company is forming a team, dubbed the “Music Content Investment Team,” to acquire or invest in music rights.
- That would put TikTok in direct competition with music labels and private equity firms, which have been on a music-rights buying spree to capture growing royalty revenues.
- But it could also give TikTok the ability to withhold music from rival services and make songs TikTok exclusives… a move that may give YouTube and Instagram some ideas.
The news could be sending shivers down streamers like Spotify and Apple Music, which are increasingly finding themselves in competition with TikTok as it builds up its music ambitions.
And it’s already in competition with labels. Just last year, TikTok started directly signing artists via ByteDance’s SoundOn program.
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