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 Nov 17.
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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 synch to songs as they listen, the report added.
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ByteDance has not given a name to its music app yet and pricing remains unclear, although it is expected to cost less than the US$10 (RM41) a month charged by Spotify Technology SA, Apple Inc and others in the United States, according to the report. -The Star