The music streaming industry is predicted to increase at a CAGR of 13.57% to US$45.31 billion in 2026.The Style Scores are a complementary set of indicators to use alongside the Zacks Rank. These licenses are distinct from the type of license required for a full-fledged music-streaming business.Īccording to ReportLinker, the global music streaming industry is predicted to increase from US$24.09 billion in 2021 to US$27.24 billion in 2022 at a compound annual growth rate (CAGR) of 13.08%. However, those agreements are on the verge of expiring before new ones are struck, with music executives claiming that ByteDance has been reticent to pay what the labels claim are established market pricing. The main music-rights holders have licensed their libraries to TikTok in short-term partnerships in order for users to include song snippets in their videos. Long-term plans include eventually integrating the music streaming service into TikTok to serve as a key platform for disseminating music around the world. However, the US will not be a part of this next phase of expansion just yet. According to the sources who told The Wall Street Journal, the company wants the service to be available globally so that customers may find songs on the short-form video app and then quickly subscribe to music.

(NYSE: SPOT).īyteDance has reportedly been considering expanding its Resso music streaming service, which is presently only available in India, Indonesia, and Brazil, to more than a dozen other nations in recent months. According to people familiar with the negotiations, TikTok parent company ByteDance Ltd has begun discussions with music labels about expanding its music-streaming service abroad to compete with industry giants such as Spotify Technology S.A.

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