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TikTok Owner ByteDance Plans to Launch Music Streaming Service: Report

TikTok owner ByteDance is reportedly looking to launch its music streaming as soon as next month, initially in emerging markets such as India.

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TikTok Owner ByteDance Plans to Launch Music Streaming Service: Report

ByteDance is yet to reveal the name of its upcoming music streaming service

Highlights
  • Bytedance's service will initially arrive in Indonesia and Brazil too
  • The company has also planned future expansion to the US market
  • The app will also include a library of short video clips aside from music

TikTok owner Beijing ByteDance Technology is in talks with big music labels - Universal Music, Sony Music and Warner Music - for global licensing deals to include their songs on its new music subscription service, the Financial Times reported on Sunday.

ByteDance is looking to launch its music streaming as soon as next month, initially in emerging markets such as India, Indonesia and Brazil, before a future opening in the United States, the FT reported, citing people familiar with the matter.

In addition to on-demand music, ByteDance's app will include a library of short video clips for listeners to search through and sync to songs as they listen, the report added.

ByteDance has not given a name to its music app yet and pricing remains unclear, although it is expected to cost less than the $10 (roughly Rs. 700) a month charged by Spotify, Apple, and others in the United States, according to the report.

The company was not immediately available for comment on Sunday.

© Thomson Reuters 2019

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