The parent firm of TikTok, ByteDance, has entered the book publishing industry as a result of the enormous popularity of the hashtag #BookTok, according to The New York Times.

ByteDance has launched a brand-new publishing division called 8th Note Press with the goal of concentrating on self-published authors. According to its trade filing’s Goods and Services section, 8th Note Press wants to create “downloadable fiction e-books on a variety of topics.

According to a Slash Gear report, 8th Note Press is interested in publishing romance and fantasy books and is eager to develop an online store for the sale of books in both physical and digital versions.

It has been highlighted that TikTok has assisted numerous authors, including Colleen Hoover, in becoming best-selling authors and well-known household names. Because they provide marketing services, aspiring authors are drawn to ByteDance’s entry into the publishing industry. Tricia O’Malley, a romance author, said to The New York Times that she received an offer of about $3,500 (INR 2,87,933) for each of her two books. However, this is far less than the US industry norms, which range from $5,000 to $20,000.

When reports surfaced that ByteDance’s subsidiary Lemon Inc. had applied for 8th Note Press’ trademark earlier this year, there were rumors that the company might enter the publishing industry.