Bytedance seeks growth with music, video app combo – Prosyscom TechLive
Two of artificial intelligence (AI)-enhanced content platform provider Bytedance’s offerings, Musical.ly and Tik Tok, will combine to launch as a new app.
Bytedance bought social music app Musical.ly in November 2017 in a deal estimated to be worth more than $800 million, while Tik Tok is described as “a short-video social platform powered by music”.
At the time of the acquisition it was said Musical.ly would continue to operate as an independent platform “integrating Bytedance’s global leading AI technology and leveraging its reach in China and key markets across Asia.” Now, though, it will be combined with Tik Tok, as a new app, which is “currently under construction” and due to be released later this year, e27 reported Tik Tok and Musical.ly country manager Teguh Wicaksono as saying.
He said Bytedance wants to focus on developing AI technologies for the new service, with a focus on local features for individual markets. The company also wants to establish a user base for the app rather than focus on monetisation, Wicaksono said, adding the new app will be easier to use and more efficient in understanding user needs when it comes to creating content.
The company is targeting the new app at Generation Z, which broadly comprises people born between 1996 and 2010, e27 stated.
“This is a win-win solution. Musical.ly already has a strong user base in the global market while Tik Tok has a big following in China,” Wicaksono said.
Both apps have been downloaded more than 500 times and together have 10 billion daily video viewers and 150 million monthly active users, e27 reported.