TikTok to shutter music streaming business in November

TikTok has announced plans to discontinue its music streaming service in November, ending a multi-year effort to compete with Apple Music and Spotify. TikTok Music will cease operations on November 28th, and user data will be deleted.
Lucas Shaw for Bloomberg News:
‎

Users were told to transfer playlists to other services no later than Oct. 28.
ByteDance Ltd., TikTok’s owner, created the music service to capitalize on the app’s power and popularity with music fans. TikTok videos have been credited with the rise of hit songs and new artists, and have led to clashes with record labels which have demanded higher payments for using their clips.
The app, originally called Resso, was launched initially in 2019, in a bet that the company could funnel TikTok users into a new service.

‎
MacDailyNews Take: Bad bet.

We are currently about 1/5th of the way to being sustainable with Substack subscriptions.
Not a bad start!
Please tell your friends about MacDailyNews on Substack and, if you’re currently a free subscriber, please consider $5/mo. or $50/year to keep MacDailyNews going. Just hit the subscribe button. Thank you!

Read on Substack

‎
Please help support MacDailyNews — and enjoy subscriber-only articles, comments, chat, and more — by subscribing to our Substack: macdailynews.substack.com. Thank you!
Support MacDailyNews at no extra cost to you by using this link to shop at Amazon.
The post TikTok to shutter music streaming business in November appeared first on MacDailyNews.