TikTok parent ByteDance plans to launch a new music streaming app

TikTok parent ByteDance plans to launch a new music streaming app One of the world’s leading startups is getting into the subscription space. ByteDance, which owns the popular mobile video content platform TikTok, now wants to launch a music streaming app. Can it compete with the likes of Spotify and Apple Music? In other news, leading music streaming app Spotify is now testing its first hardware. Read on to find out more details. We also look at the impact of the season finale of Game of Thrones on HBO subscriptions. Regulation comes next, as we examine the impact of the Payment Services Directive 2 on the subscription industry. And finally, we turn the spotlight on an all new ice cream subscription service, just in time for summer!

TikTok maker wants to challenge Spotify and Apple Music

ByteDance, one of the world’s most valuable startups, is creating a new music streaming service to take on the likes of Spotify and Apple Music. The new app is expected to be released this autumn with a focus on emerging markets since paid music services haven’t found a footing in these jurisdictions yet. The company has already secured rights from two of India’s leading music labels.

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Spotify testing its first audio hardware – a smart assistant for cars

Spotify is publicly testing a voice-controlled smart assistant for cars. Some Premium users will receive the device free of charge. The device, called ‘Car Thing’, can be voice-activated with ‘Hey Spotify’ similar to Amazon Echo and Google Home devices. Testing will begin in the next few weeks and will be restricted to the US for now.

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HBO subscriptions take a hit after Game of Thrones

‘Game of Thrones’ just aired its final episode earlier this week. Unsurprisingly, many HBO subscribers have now decided to cancel their subscriptions after the end of its most popular series. This puts the spotlight on ‘subscriber churn’ – where no-contract streaming packages and unlimited choices have put a lot of pressure on SVOD businesses to create good content at all times to be sustainable.

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The PSD2 impact on subscription businesses

The revised Payment Services Directive (PSD2) will take effect from 14th September 2019 onwards in Europe. The region’s newest data regulation aims to reduce fraud and improve security by mandating Strong Customer Authentication (SCA). Subscription businesses will now have to verify a subscriber’s identity when they subscribe to a product or service online.

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Fancy an ice cream subscription?

The subscription industry just keeps expanding across industries. US-based Franklin Fountain has launched a new ice cream subscription service called the Ice Cream Explorers’ Club. Subscribers will get two ice cream pints per month including flavours that are usually not available in outlets and the first taste of seasonal favourites. The prices are set at $48 for three months, $92 for six months and $184 for 12 months.

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Also read: Spotify testing new Instagram-like Storyline feature