TikTok is launching a music streaming platform

Tiktok - the addictive, video-hosting giant has launched a closed beta for its subscription-only music streaming service to Australia, Mexico, Singapore, Indonesia and Brazil.But music is an expensive playground to join, and when so many of the incumbents - Spotify, Amazon, Apple -  are already losing money - why is TikTok pursuing this line of thinking? Today Sascha is joined by Jessica Weatherbed from The Verge to talk about this decision today. Want more Equity Mates? Click here. In the spirit of reconciliation, Equity Mates Media and the hosts of The Dive acknowledge the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respects to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander people today. *****This podcast is intended for education and entertainment purposes. Any advice is general advice only, and has not taken into account your personal financial circumstances, needs or objectives. Before acting on general advice, you should consider if it is relevant to your needs and read the relevant Product Disclosure Statement. And if you are unsure, please speak to a financial professional. Equity Mates Media operates under Australian Financial Services Licence 540697.The Dive is part of the Acast Creator Network. Hosted on Acast. See acast.com/privacy for more information.