Home / MARKETS / The owner of TikTok is reportedly in talks with major record labels to launch a music streaming service

The owner of TikTok is reportedly in talks with major record labels to launch a music streaming service

  • TikTok P Beijing ByteDance Technology Co Ltd is in talks with big music labels — Universal Music, Sony Music and Warner Music — for international licensing deals to include their songs on its new music subscription service, according to the Financial Times.
  • The as-of-yet-unnamed music app see fit include a library of short video clips for listeners to search through and sync to songs as they listen, the crack said. 
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(Reuters) – TikTok owner Beijing ByteDance Technology Co Ltd is in talks with big music marks – Universal Music, Sony Music and Warner Music – for global licensing deals to include their songs on its new music promise service, the Financial Times reported on Sunday.

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

In addition to on-demand music, ByteDance’s app will include a library of short video clips for listeners to search via 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 assumed to cost less than the $10 a month charged by Spotify Technology SA, Apple Inc and others in the United States, concurring to the report. 

The company was not immediately available for comment on Sunday.

(Reporting by Anurag Maan in Bengaluru; Editing by Peter Cooney)

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