Music executives are also concerned about Resso’s money-making in its three markets. In comparison, Spotify has found new revenue sources as podcasting to improve its margins, and last month began selling audiobooks.
Is ByteDance in a financial position to do this? In 2021, revenue was up nearly 80% to US $61.7 billion (AU$97.9 billion)īut its expansion also saw it spending $27.4 billion ($43.5 billion), a 79% rise from the previous year. The WSJ described ByteDance’s discussions with record companies as “strained at times over disagreements about how to value TikTok’s promotional benefits for the labels.”Ĭertainly, TikTok has broken some major hits such as “Heat Waves” by Glass Animals and “Blinding Lights” by the Weeknd.īut it goes back to the general gripes about how much labels make from streaming services.Įxecutives want a revenue-share basis where labels and artists are paid every time a track is used, rather than an upfront licensing fee. The trademark filing covered streaming, podcasts and radio broadcasts allowing users to digitally manage music, photographs, and videos and even “a function of karaoke.”ģ2% of Australian adult internet users are TikTok followers who, if international figures can be used, 90% would use it on a daily basis and spend 45.8 minutes a day on the app.
These included Australia and New Zealand, Malaysia, Latin America, Singapore and Asia.Īustralia was the first country where ByteDance submitted its trademark application, last November. It is expected that Resso will rebrand, with ByteDance setting up at least six Twitter accounts for TikTok Music. Indications are Australia could be one of the first expanded destinations. None of the dozen+ countries were named but the United States would not be one of them.
“Such an integration would make it easier for artists who market themselves on TikTok to earn more money through streaming.” “But ByteDance wants the service to eventually be integrated within TikTok and to serve as a major platform for distributing music around the world. “Significant hurdles remain in the negotiations, the people said,” according to the WSJ story. It is currently only available in India, Indonesia and Brazil. Citing people familiar with the discussions, the talks have centred around ByteDance’s Resso music streaming service.
0 kommentar(er)
