TikTok owner ByteDance Technology Co Ltd is looking to venture out even further after recently launching their first smartphone in China, the Jianguo Pro 3. The company is now currently in talks with major music labels including Universal Music, Sony Music, and Warner Music in interest to license artists and songs, reported the Financial Times on Sunday. The move was made by the TikTok owner in order to include songs in their upcoming music streaming service which is yet to be named.
According to Financial Times, ByteDance’s streaming service will also include a library of short video clips for listeners to search through and sync to songs as they listen in, aside from providing on-demand music. The company has not disclosed the service’s subscription pricing, although it is expected to cost less compared to its competitors such as Spotify or Apple Music in the United States.
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ByteDance plans to launch the new music streaming service as soon as December, beginning in countries with emerging markets such as India, Indonesia and Brazil, while the United States will see a future opening sometime after. It’s not mentioned if Malaysia will be among the asian countries that will see the initial launch of the service.
(Source: Financial Times via Reuters | Main Image: Reuters)
