TikTok generates more rumors about the payment transmission service in a license agreement that adds THOUSANDS of tags
TikTok generates more rumors that they are launching a streaming service by allowing users to put music from thousands of independent record labels in their videos
- TikTok reached an agreement with Merlin that licenses music for thousands of labels
- Users can now insert a wide catalog of music into their videos
- The measure also paves the way for a long-standing transmission service called Resso
TikTok users will have a much easier time to record videos thanks to a new partnership that could open the door to the platform’s rumor streaming service.
According to a TechCrunch report, TikTok has partnered with the Merlin licensing company to make available to users a new range of independent artists who want to improve their videos with music.
Among the record labels with license agreements through Merlin are independent pillars such as Sub Pop, the former home of bands like Nirvana, and Domino.
In addition to a larger music library for TikTok to choose from among users, the agreement also indicates that the Chinese social media giant will eventually launch a music streaming service that is rumored to be called ‘Resso’.
The parent company of the viral video application TikTok confirmed its plans to launch its own smartphone. Stock Photo
‘Independent artists and labels are a crucial part of creating and consuming music on TikTok. We are excited to partner with Merlin to bring his family of stamps to the TikTok community, ” said Ole Obermann, Global Head of Music at TikTok in a statement.
“The breadth and diversity of the catalog presents our users with an even bigger canvas to create, while giving independent artists the opportunity to connect with the diverse TikTok community.”
For TikTok, a successful transmission service represents an important way for the company to start channeling revenue.
Despite the meteoric rise of TikTok in popularity, it recently became the second most downloaded application of the decade, it has not been as successful in making the application profitable.
Last year, TikTok began exploring the sale of user data as a means to help increase revenue.
AdWeek reported in August that the company was testing a local network for advertisers that allows parties to target TikTok users both inside and outside the application.
TikTok has also had a real impact on cultural trends in the years after its launch. For example, ‘Old Town Road’, currently the world’s number one song, gained momentum on TikTok
In the test, TikTok explored the use of data such as videos that users saw, to publish targeted ads. The test was implemented only in East Asia.
As for Resso, it is not clear when exactly TikTok plans to present the service or how much it will cost.
According to TechCrunch, TikTok’s parent company, ByteDance, owns the service’s trademark and has already begun to reach agreements with other record companies.
Previous rumors suggested that Resso could be launched first in India, where hundreds of millions of people have already downloaded the application.