TikTok has announced that they are to be getting more involved in the industry of music distribution, having cemented significant partnerships with the likes of SoundOn and hiring a new A&R (artists and repertoire) lead.
Over the past few years, the app has cemented itself as one of the most significant social media rising stars, thanks to its captivating short-form videos.
Despite concerns from Western leadership that the Chinese app could be used as a spy tool, the application has grown consistently in popularity and has expanded to generate revenue from advertising, selling data, sponsorships, and now music.
TikTok is working on paywalled videos.
This app is literally competing with every social media service. A few examples:
• Extended video length to 10 minutes (competes with YouTube)
• Launched SoundOn, a music distribution service for artists (DistroKid)
• Filed a trademark… https://t.co/tR5lbppU4R
— Dan Runcie (@RuncieDan) March 7, 2023
TikTok Signs Significant Partnership with SoundOn
SoundOn is to be TikTok’s new partner for the music space, and demonstrates the application’s determination to compete with other important apps in the space such as Spotify and SoundCloud.
TikTok is using SoundOn to take on the entire music industry as it queues up creator marketing and hires an A&R lead for North America https://t.co/i1AeQ2RJks
— Insider Business (@BusinessInsider) March 15, 2023
Artists Retain 100% of Royalties with SoundOn
One of the main promises of the NFT space, and one of the reasons that it attracted so much celebrity attention, was thanks to the promise that artists would be able to retain 100% of their royalties.
However, this has not panned out in the way that many imagined.
SoundOn guarantees that artists can retain 100% of the proceeds from their royalties, in a move that is sure to incentivize artists to flock to the app en masse.
SoundOn promises to ensure that artists don’t have to contend with many of the bureaucratic and administrative processes of old and that they can receive their payments for royalties monthly.
TikTok Hiring New A&R Lead for North America
Another indication of TikTok’s determination to cement itself in the music industry has been the fact that they have listed a job posting for an A&R and label services lead.
As such, TikTok will be delving into the music industry and attempting to establish their own record label.