Record labels have taken a new form and it looks a lot like TikTok. The short-form video-sharing company has plans to increase its share in the marketplace by distributing music for independent emerging artists. Is TikTok The Biggest Competitor?
Music label companies and TikTok have had a pretty rough start and although they’re on good terms amid the multiple revenue-sharing deals, it seems the feud is set to rise again, as the platform wants to expand its dominance in the industry.
The giant labels are aware of TikTok’s power to create chart-topping hits and they wouldn’t miss an opportunity like that to invest their money, especially when they can give potential up-and-coming artists a chance to shine.
But with over one billion users and over 200 million downloads in the US alone, TikTok is slowly paving the way for its expansion, and with the launch of SoundOn, it’s only normal that the traditional record labels feel threatened.
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