A moment of relief for TikTok executives: a music story making headlines, rather than the latest revelation about the company’s potential sale or ban in the US. TikTok is getting a “five-day premiere” of the new single from David Guetta and Sia, and it’s a useful pointer to how the app is developing as a platform for music marketing.
‘Let’s Love’ comes out on Friday (11 September) on streaming services, but a 15-second edit will be available for TikTok users to make videos with from today, as part of an official #LetsLove challenge that’s being promoted by Guetta through his TikTok profile. “Can we go over difficult times together? Use the #letslove to show us how you stay positive: fitness, dance, drawing… it’s your time to shine,” is how the challenge words it.
It’s one of the most high-profile examples of a track (or rather, a portion of it) being made available on TikTok before its official release date, with the aim of whipping up the kind of virality that will generate an early spike in streams elsewhere come Friday. We’ll see today whether the label (or, indeed, TikTok itself) is putting some marketing budget into getting popular influencers on the app to join the challenge.
Elsewhere in TikTok-land, app analytics firm Sensor Tower has put out some new estimates on its business. It claims that TikTok users spent $592m in the first eight months of 2020 on in-app purchases of ‘coins’ to tip their favourite creators – a figure that includes purchases made on TikTok’s Chinese version Douyin.
“This figure represents nearly one-fifth of the $3 billion generated by apps in the entertainment category on the App Store globally,” it added. Sensor Tower also reckons that TikTok was the most lucrative app in the world for in-app spending in August, generating $88.1m ahead of YouTube ($83.9m). The usual caveat: neither figure includes advertising revenue.
Meanwhile, the analytics firm also provided some figures to India’s Economic Times about the growth of Resso, the music streaming app launched by TikTok’s parent company ByteDance. Sensor Tower estimates it was downloaded 2.9m times in India across the months of July and August. That’s more than Amazon Music (2m) but behind YouTube Music (4.3m), Spotify (4.4m), JioSaavn (9.5m) and Gaana (11.5m).