Economic Insider

TikTok is a Music Industry Trendsetter, Helping New Artists


TikTok has had an undeniable positive impact on the music industry. On-the-rise artists and choreographers have risen to prominence as a result of a single video that captured the attention of TikTok users all over the world.

For example, Zoi Lerma, a bagel shop employee in Los Angeles, choreographed Benee’s “Supalonely.” She then shared her video on TikTok, where it received positive feedback from users. The video has since garnered over 45 million views on TikTok, propelling Benee to global fame.

Content makers and users have uploaded over 5.7 million videos of Benee’s “Supalonely.” In addition, Benee received nominations and prizes for the song’s success, including New Artist of the 2020 People’s Choice Awards, as well as sales of over 1 million copies and 2.1 billion streams across all platforms. Benee also played two sold-out concerts in New Zealand.

“When it started trending on TikTok and picking up on TikTok, I would hear it on the radio or, you know, hear it in stores. I would hear it everywhere,” said Lerma.

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TikTok has generated revenue for the music industry

TikTok’s ubiquity is what makes it one of the most prolific hitmakers of the twenty-first century. The program, which is owned by China’s ByteDance, provides a platform for artists and content producers to express and present their abilities in short films. A user might submit anything, including animals, personal life, hobbies, ASMR, singing, dancing, and many other things.

The videos, for the most part, capture the attention of many people and quickly go viral within hours of being posted. As a result, TikTok is a trendsetter, even regaining the popularity of previously successful songs. For example, Fleetwood Mac’s “Dreams” hit the charts two years ago after a viral video featuring the song was released. Furthermore, TikTok has evolved into a revenue-generating platform for music labels and artists.

An analyst and consultant at Midia Research, Tatiana Cirisano, said, “If a song is going viral on TikTok, and the artist is unsigned, and as a result, it’s getting a million streams on Spotify, the labels are scrambling to sign that song or that artist. They’re obsessed with expanding their market share and making sure they don’t lose any market share to independent artists.”

“With hundreds of songs generating over 1 billion video views and dozens of artists signing record deals as a result of success on the platform, TikTok starts trends that reverberate throughout the culture, the industry, and the charts,” stated TikTok in a release.

Additionally, teenagers have begun using TikTok frequently. According to a poll taken, TikTok is used by around 67% of youths in the nation, with 16% of them claiming to use it more often. The format of TikTok is thus imitated by various social media platforms. As an illustration, Facebook’s Reels, which are modeled after TikTok’s interface, were recently introduced by Meta.

TikTok had more than 1 billion users globally a year ago, and this number is growing.

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Allegations made against TikTok

While TikTok is burgeoning, U.S. authorities are becoming concerned about the danger that the company may cause its users. A little more than two months ago, Congress ordered that TikTok answer questions about suspected access to user information in the United States.

“In light of this new report, we ask that your agency immediately initiate a Section 5 investigation on the basis of apparent deception by TikTok and coordinate this work with any national security or counter-intelligence investigation that may be initiated by the U.S. Department of Justice,” the lawmakers stated.

The statement was made in reply to a BuzzFeed story revealing that ByteDance, TikTok’s parent firm, routinely accessed the information of many of its users, particularly those in the United States. TikTok, on the other hand, was eager to dispute the charges.

“[TikTok has] consistently maintained that our engineers in locations outside of the U.S., including China, can be granted access to U.S. user data on an as-needed basis.”

Source: CNBC

Opinions expressed by Economic Insider contributors are their own.


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