AUGUST 1ST, 2022 12:00 PM MONTREAL, CANADA.
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Hey Guys,
Remember how Google Executives noticed GenZ does a lot more mobile search in TikTok itself? There’s a lot of correct analysis last month that ByteDance is working on a Music streaming app to take on Spotify and Apple.
This as Apple is getting into advertising in its own big way. App store Ads are coming to the “Today” tab and more. This is a big deal as companies like Amazon, Microsoft and Apple ramp up advertising that could hurt Meta, Snap, Pinterest and others.
While there is a macro slowdown in Advertising for instance caused by retail inventory mismatches and consumer sentiment woes, the future of TikTok as a super app means more apps. ByteDance knows a thing or two about app development and app marketing.
I’ve spoken about how ByteDance would do well in any area GenZ is active in gaming-Ed-Tech and music discovery. However, China has regulated gaming and Ed-Tech in recent years thus meaning ByteDance would have accelerated their Spotify competitor.
With less regulation, ByteDance would have become a Gaming and Ed-Tech giant as well. But it needed to hit the breaks on those due to regulation that hit China just at the time when it was ramping up those two industries. Music will be TikTok’s revenge!
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