BRIEF: TikTok to shutter year-old music streaming platform - Bamboo Works - China stock insights for global investors

September 26, 2024

Short video platform TikTok announced it will discontinue its TikTok Music streaming service on Nov. 28, just over a year after launching the service, Caixin reported. TikTok said that customer data from the music service will be deleted after the closure, and customers will have until Nov. 28 to request refunds.

The company, the international arm of China’s ByteDance, launched the music service in July 2023, hoping to leverage its popular short video platform to compete with big names like Apple Music and Spotify. The latest move reflects TikTok’s recent shift from directly competing with internet entertainment companies to forming more partnerships with other industry leaders, Caixin said.

By Doug Young

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Social Media/Entertainment - FastNews

ByteDance, TikTok, Temu, TikTok Music

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