Why TikTok Music’s Failure Isn’t Surprising, and What It Says About Today’s Streaming Business
News that Bytedance will shut down its 18-month old TikTok Music on-demand music streaming service might have come as a surprise to some people. After all, TikTok has over 1 billion monthly active users globally and singlehandedly redefined music discovery by turning generation of smartphone users onto music-based, short-form videos. Related Time’s Up: TikTok Music…