TikTok is assembling an investment team to acquire music content

According to Music Business Worldwide, the ByteDance-owned company – founded in 2016 and expected to reach 1.8 billion monthly active users by the end of 2024 – is considering recruiting executives from investment banking and private equity to lead the initiative.

An open call from the company reads: “The team will work with TikTok’s music content strategy and operations teams to evaluate market opportunities, pursue partnerships or acquisitions, conduct detailed financial analysis and valuations of music content and related assets that help shape the future of the companies music TikTok. The team works collaboratively with senior management to establish overall strategic direction and will be accountable for partnership and acquisition performance.

The unit will also conduct industry research to evaluate acquisition opportunities, monitor market trends and provide detailed analysis to senior management. He will develop a strategic framework to evaluate potential investment targets aligned with TikTok’s music content priorities and prepare comprehensive financial valuation models for music companies, including market size, financial forecasts and synergy assessments.

The announcement follows the April expansion of TikTok’s SoundOn distribution platform into seven new territories, including African countries such as Nigeria, South Africa and Egypt, as well as a recent call for proposals for A&R executives with record label experience.

Elsewhere, TikTok recently partnered with Adobe, a US computer software company, to integrate TikTok’s commercial music library with its AI content creation app Adobe Express via the Symphony Assistant add-on. According to Adobe executive Govind Balakrishnan, the feature, which has already been used in nearly 2 billion videos, will help “offer our customers an even easier and faster way to create more effective TikTok content that works for their business.”

TikTok recently took legal action against the U.S. government after President Joe Biden signed a bill requiring ByteDance to sell its U.S. operations or face a nationwide ban.