TikTok owner ByteDance in talks with labels for music streaming launch
TikTok
owner Beijing ByteDance Technology Co Ltd 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
https://on.ft.com/37brU3U, 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 synch 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 a month
charged by Spotify Technology SA, Apple Inc and others in the United
States, according to the report. Read
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