Amid all the conversations surrounding low streaming rates and the grueling task of monetizing music, TikTok has stepped up with a solution of their own. Having launched SoundOn, their most recent contribution to music distribution, TikTok is looking to support new artists and future SoundOn creators.
Created as an additional tool on the app, SoundOn will allow artists to: select various third-party streaming platforms on which they wish to make their music available, keep an eye on audience reception, and even obtain royalties as their sounds are used on the platform. While rates have yet to be announced to the public, the company has confirmed that they will be paying artists 100% of their royalties for the first year and 90% the following years.
This addition doesn't come as a surprise, as TikTok has made big waves in the music industry as of late. Just in the last 2 years, many songs and careers have blown up at exceptionally rapid rates thanks to the app and their millions of users, so this expansion seems like a natural step forward for the platform. While it is still difficult to tell how effective this tool will be, SoundOn could mark the beginning of a shift in distribution and monetization.