TikTok owner, ByteDance Technology, is reportedly going to launch its own streaming service, according to the Financial Times.
The company is in talks with Universal Music, Warner Music and Sony Music to obtain global licensing deals for the music subscription service.
ByteDance wants to launch the streaming service as early as next month in India, Indonesia and Brazil before launching in the United States sometime in the near future. There isn’t any word on a Canadian launch yet.
In addition to on-demand music, the app will include a library of short video clips that users could sync to songs and then share with their friends. This feature borrows from TikTok’s social media hook in terms of video sharing.
The streaming service is expected to cost less than Spotify and Apple Music making it less than $10 USD (approximately $13 CAD) per month.
Source: Financial Times Via: Reuters
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