Facebook is working on a standalone new app that could enable users to record and share videos of themselves lip syncing or dancing. The company plans to win back the attention of teens while capitalizing on its recently attained major label music licenses.
The app is designed to compete with Musical.ly, a hit among teens with 60 million monthly users that was acquired by Chinese tech giant ByteDance at USD 1 billion and rolled into the company’s TikTok app.
As TikTok is on the rise, climbing from the No. 32 overall iPhone app in the US three months ago to reach No. 5 on Oct 24, Facebook is aiming a shot to challenge China’s ByteDance.